Just a further note.....it is becoming increasingly common for Chinese textile firms to take orders from international fashion brands and then ‘send fabrics and other raw materials to North Korean factories just across the border, where worker wages are much lower, to be sewn into the finished clothes. The clothes are sent back to Chinese ports and exported globally, bearing “Made in China” tags.....
THIS is the trade war the sanctions etc are currently affecting China has concerns about. If N.Korean people can’t work in their factories for China it’s going to cost China heavily to make them in their own country.......
Good, helpful, informative posts.
I don’t think China will surrender all it’s built up in N Korea for that but it could happen. At least Trump is giving them (forcing them to make) a choice.
Continued.....
The political ramifications of cutting off any large Chinese bank from the US financial system would be really bad for China....not to mention the political ramifications for XI.
In the last sanctions Chinese Bank of Dandong, just across the border from N.Korea, had acted as a conduit for illicit North Korean financial activity and was a foreign bank of primary money laundering concern......and a criminal complaint and forfeiture action was filed by the US Department of Justice against Dandong Hongxiang Industrial Development (DHID), and its majority owner, Ma Xiaohang and three top executives last year.....which didn’t help China or N.Korea.
I hadn’t heard that about the textiles, but it doesn’t surprise me. They’ve been playing us for suckers for so long.