World Media

China's trade with N. Korea plunges due to United Nations sanctions

China's trade with N. Korea plunges due to United Nations sanctions

China's imports from North Korea plunged in December to their lowest level in dollar terms since at least the start of 2014, with trade curbed by United Nations sanctions aimed at persuading Pyongyang to abandon its ballistic missile and nuclear weapons programs.

North Korea has repeatedly asserted that sanctions are killing its people while claiming that global diplomatic and economic pressure will never derail its ballistic missile and nuclear weapons development programs, essentially telling the world that the regime will starve its people before abandoning its weapons of mass destruction.

The UN Security Council has steadily tightened prohibitions on buying the North's goods or supplying it with oil in an effort to discourage leader Kim Jong Un's government from pursuing nuclear and missile technology.

After North Korea tested its most powerful nuclear device yet and launched missiles capable of reaching the US, the UN Security Council imposed a series of sanctions restricting oil imports and cutting off about 90 percent of its export revenue. North Korean fishery products are reportedly still on the Chinese market, and China is believed to be supplying its neighbor with crude oil via covert channels that do not appear in official trade statistics.

"You have to understand it was the most tense period for bilateral ties, and foreign relations determine trade relations".

Colgate Palmolive Co (NYSE:CL) Q3 2017 Institutional Investor Sentiment Steady
Several other institutional investors have also bought shares of the company. 96 funds opened positions while 242 raised stakes. To measure price-variation, we found CL's volatility during a week at 0.98% and during a month it has been found around 1.01%.

In December, the UN Security Council in December adopted tough new sanctions against North Korea that sharply reduced the amount of refined fuel the country can import.

In 2017 as a whole, China's overall trade with North Korea declined by more than 10 percent to about $5 billion, as U.S. President Donald Trump secured Beijing's backing for four escalating rounds of sanctions.

Compared with a month earlier, exports fell 9.7 percent.

However, exports to the country rose 8.3 percent to $3.34 billion. The value was the highest since 2014.

Following the adoption of the UNSC resolution on North Korea, China called on all the parties involved to show restraint and undertake joint efforts in order to de-escalate tensions on the peninsula.


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