This was part of an international effort to limit both access to materials that could support North Korea's nuclear and missile development program in response to the regime's first nuclear test, as well as the regime's so-called "gift diplomacy" of rewarding loyal supporters with lavish presents. … [Read more...] about China Gave North Korea Luxury Gifts and Booze Banned Under Sanctions
Talk about sanctions
In 2017, China agreed to ban a variety of North Korean exports — coal, iron ore, marine products, and goods from the country’s emergent textile and garment industry. These sectors account for almost half of North Korea’s known exports. … [Read more...] about Those North Korea sanctions might be working. Here’s why.
That’s why, as part of its general resistance to sanctions against North Korea’s civilian industries, Moscow helped North Korea evade oil-related sanctions. In early 2017, Russia opposed the United States’ proposed oil embargo against North Korea, and at the United Nations, successfully worked with China to change these to more moderate oil industry sanctions. When the United States successfully lobbied for further restrictions on North Korea’s access to foreign oil in a December U.N. resolution, Moscow ensured that North Korea would not be isolated from global energy markets by shipping enough oil to Pyongyang to reduce petroleum prices in North Korea by 60 percent. … [Read more...] about Why Russia is openly violating sanctions against North Korea
The principle, according to the Chinese, is straightforward, writes University of Edinburgh senior lecturer Kristen Hopewell: “If foreign multinationals are going to reap large profits from producing and selling goods in the massive Chinese market, then the country should be able to harness that investment to aid its own national development.” The government views the program as helping bridge its way to the developed world. Hopewell notes the country has a long way to go: “Average per capita income is just $8,000 compared to $56,000 in the United States. Although China has achieved remarkable success in fostering economic development and reducing poverty, it still faces immense challenges in boosting incomes to anywhere close to the level of advanced economies.” … [Read more...] about The Finance 202: Beijing trade talks conclude with no progress. Get ready for a long slog.
The South Korean newspaper Joongang Ilbo reports that Pompeo, who flew to Pyongyang after landing in Japan, told reporters on the short flight out of Japan that his goal on the trip was to “put in place a framework for a successful summit between the two presidents.” Kim Jong-un’s official title is “Chairman,” which he inherited from his father Kim Jong-il. North Korea in its current state has never elected a president or any other political official. … [Read more...] about Mike Pompeo in North Korea: ‘We’re Not Going to Relieve Sanctions’