Flags of U.S. and China are placed for a meeting in Beijing, China June 30, 2017. Jason Lee
Reuters: Exclusive: U.S. prepares new sanctions on Chinese firms over North Korea ties - officials
WASHINGTON (Reuters) - Frustrated that China has not done more to rein in North Korea, the Trump administration could impose new sanctions on small Chinese banks and other firms doing business with Pyongyang within weeks, two senior U.S. officials said.
The U.S. measures would initially hit Chinese entities considered "low-hanging fruit," including smaller financial institutions and "shell" companies linked to North Korea’s nuclear and missile programs, said one of the officials, while declining to name the targets.
It would leave larger Chinese banks untouched for now, the official said.
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WNU Editor: This is sending a chill in Beijing ... and this is not helping them .... China trade with sanctions-struck North Korea up 10.5 percent in first half (Reuters).
This should have happened many years ago.
ReplyDelete"This should have happened many years ago." Perhaps you are correct. There may have been a time when sanctions might have made a difference. At this point, it seems unlikely that they will.
ReplyDeleteAll sanctions against major powers like China accomplish is to increase bitterness making cooperation less likely rather than more likely, they hasten the investable end to the US dollar in its role world reserve currency, and provide impediments to what should be our goal in this regard of ensuring a soft landing and orderly transition for us when it does happen.
Sanctions are unbelievably useless. When was the last time they actually worked?
ReplyDeleteWe have to forbid import from China for 30 days. It will hurt us a little bit and will not have a real effect on economy (catch up the next month) but will be a serious notice to China. They are not stupid they will understand.
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