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China reveals large falls in trade with North Korea

by | 12 Jan, 2018

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North Korean citizens pay their respects to former DPRK leaders, immortalized in giant statues in Pyonyang

China has reported a significant drop in trade with North Korea, in data that represents a notable victory for Donald Trump.

According to the spokesman for the General Administration of Customs Huang Songping, trade between the pair fell 10.5 per cent in 2017 compared to 2016 as a whole, while it fell 50.6 per cent for the whole of the month of December 2017 compared to December 2016.

China’s imports from the rogue regime fell 81.6 per cent from a year ago to $54.34 million marking their lowest level in 5 years, according to Reuters, while China’s exports also dropped by 23.4 per cent to $260 million in the same period.

Under heavier pressure from the Trump administration, other countries in the United Nations including Russia signed the toughest ever sanctions on North Korea in December. The resolution from the UN cut exports of gasoline and other oil products to North Korea by 89% and banned the export of key industrial equipment to the increasingly isolated country.

Despite this, DPRK leader Kim Jong Un vowed that the North would continue its weapons programme in his New Year speech, saying: “The nuclear weapons research sector and the rocket industry should mass-produce nuclear warheads and ballistic missiles, the power and reliability of which have already been proved to the full, to give a spur to the efforts for deploying them for action.”

The North Korean leadership has always preserved the narrative the regime is in a great struggle to protect itself against the worlds primary imperalist aggressor, America, which actively seeks to start a thermonuclear war on the Korean Peninsula. Kim Jong Un added in his speech, “Our country’s nuclear forces are capable of thwarting and countering any nuclear threats from the United States, and they constitute a powerful deterrent that prevents it from starting an adventurous war.”

Invstr CEO Kerim Derhalli listed the North Korean threat in his list of risks that investors should look out for in 2018.

Related: North Korea back in focus. Brexit breakthrough. ECB issues warning.

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

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