News / Economy

China Exports to North Korea Fall

A cargo ship loaded with containers is seen anchored at a port in Qingdao, Shandong province, China, July 10, 2013.
A cargo ship loaded with containers is seen anchored at a port in Qingdao, Shandong province, China, July 10, 2013.
William Ide
Newly released Chinese trade data show that during the first six months of the year, exports to North Korea fell for the first time in four years. The figures were made public shortly after Chinese Vice President Li Yuanchao wrapped up a visit to North Korea to mark the 60th anniversary of the end of the Korean War.
 
Newly released figures from China’s General Administration of Customs shows exports to North Korea shrank by more than 13.6 percent from January to June, to $1.59 billion when compared with the same period last year.
 
The last time exports from North Korea’s biggest ally slipped that much was in 2009 in the wake of the global financial crisis.
 
The drop in Chinese exports was due largely to a steep decline in shipments of crude oil to the North.

North Korea's reliance on China oil

Lu Chao, a Korea scholar at the Liaoning Academy of Social Sciences, said that according to official figures, China is the biggest provider of oil to North Korea, providing more than 500,000 tons last year alone.
 
The reason for the recent drop in Chinese exports is simple. “The main reason is clear to everyone, this year after North Korea’s nuclear test, China has implemented the sanctions decided by the U.N. Security Council resolution," he said. "The figures reflect this situation, because under normal terms China and North Korea trade goods and material for production, but when restrictions affect the more sensitive sector of military equipment the slow down is more evident.”
 
North Korea’s decision to carry out its third nuclear test earlier this year has seriously strained ties between the two countries.
 
In the wake of the test, some Chinese academics were calling on Beijing to cut off North Korea completely, and protestors took to the streets denouncing what they felt was Beijing’s tolerance of the test.
 
Chinese officials have condemned the test and repeatedly have called for a resumption of six-nation talks aimed at ending the country’s nuclear weapons programs.

China tightens banking restrictions

In May, the state-run People’s Bank of China announced it was closing all transactions and shutting down its account with North Korea's foreign trade bank.
 
Last week, China’s Vice President Li Yuanchao made a trip to North Korea, the first ever since Kim Jong Un took office. The two were seen standing close together, smiling and waving to crowds during ceremonies that marked the 60th anniversary of the end of the Korean War.
 
Lu said the trip, however, which stood in contrast to China’s recent actions, was not contradictory.
 
“The relationship is now in a transition from the old alliance sort of relationship to more normal friendly relations between the two countries. The fact that Li Yuanchao took part in the celebration doesn’t mean that there’s a big change in relations between the two countries or that they are leaning to one side or another,” said Lu.
 
During meetings Tuesday in Seoul, South Korea and the United States announced their intention to continue implementing sanctions against North Korea and to seek further assistance from China.
 
David S. Cohen, undersecretary for terrorism and financial intelligence at the U.S. Treasury Department, met with South Korea’s vice foreign minister and top negotiator to the long-stalled six party talks in Seoul on Tuesday.

You May Like

Mugabe Dismisses Male-Female Equality

'It is not possible that women can be at par with men' incoming African Union president declares on eve of summit More

Somali Terror Suspect's Light Sentence Raises Questions

Abdullahi Yusuf, 18, could have spent 15 years in prison but judge instead sentenced him to a halfway house, and a program to try to integrate him back into the community More

Video Kobani Ravaged Following Kurdish Ouster of IS Militants

Even so, hundreds of refugees sheltering in Turkey seek to return; Kurdish forces hold some back, saying fighting continues More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Groundbreaking Hand-Painted Documentary About Van Gogh in Productioni
X
George Putic
January 29, 2015 9:43 PM
The troubled life of the famous 19th century Dutch painter Vincent van Gogh has been told through many books and films, but never in the way a group of filmmakers now intends to do. "Loving Vincent " will be the first ever feature-length film made of animated hand-painted images, done in the style of the late artist. VOA’s George Putic reports.
Video

Video Groundbreaking Hand-Painted Documentary About Van Gogh in Production

The troubled life of the famous 19th century Dutch painter Vincent van Gogh has been told through many books and films, but never in the way a group of filmmakers now intends to do. "Loving Vincent " will be the first ever feature-length film made of animated hand-painted images, done in the style of the late artist. VOA’s George Putic reports.
Video

Video Rock-Consuming Organisms Alter Views of Life Processes

Scientists thought they knew much about how life works, until a discovery more than two decades ago challenged conventional beliefs. Scientists found that there are organisms that breathe rocks. And it is only recently that the scientific community is accepting that there are organisms that could get energy out of rocks. Correspondent Elizabeth Lee reports.
Video

Video Paris Attacks Highlight Global Weapons Black Market

As law enforcement officials piece together how the Paris and Belgian terror cells carried out their recent attacks, questions are being asked about how they obtained military grade assault weapons - which are illegal in the European Union. As VOA's Jeff Swicord reports, experts say there is a very active worldwide black market for these weapons, and criminals and terrorists are buying.
Video

Video Activists Accuse China of Targeting Religious Freedom

The U.S.-based Chinese religious rights group ChinaAid says 2014 was the worst year for religious freedom in China since the end of the Cultural Revolution. As Ye Fan reports, activists say Beijing has been tightening religious controls ever since Chinese leader Xi Jinping came to office. Hu Wei narrates.
Video

Video Super Bowl Ads Compete for Eyes on TV, Web

Super Bowl Sunday (Feb. 1) is about more than just the NFL's American football championship and big parties to watch the game. Viewers also tune in for the world famous commercials that send Facebook and Twitter abuzz. Daniela Schrier reports on the social media rewards for America’s priciest advertising.
Video

Video Theologians Cast Doubt on Morality of Drone Strikes

In 2006, stirred by photos of U.S. soldiers mistreating Iraqi prisoners, a group of American faith leaders and academics launched the National Religious Campaign Against Torture. It played an important role in getting Congress to investigate, and the president to ban, torture. VOA's Jerome Socolovsky reports.
Video

Video Freedom on Decline Worldwide, Report Says

The state of global freedom declined for the ninth consecutive year in 2014, according to global watchdog Freedom House's annual report released Wednesday. VOA's William Gallo has more.
Video

Video MRI Seems to Help Diagnose Prostate Cancer, Preliminary Study Shows

Just as with mammography used to detect breast cancer, there's a lot of controversy about tests used to diagnose prostate cancer. Fortunately, a new study shows doctors may now have a more reliable way to diagnose prostate cancer for high risk patients. More from VOA's Carol Pearson.
Video

Video Smartphones About to Make Leap, Carry Basic Senses

Long-distance communication contains mostly sounds and pictures - for now. But scientists in Britain say they are close to creating additions for our smartphones that will make it possible to send taste, smell and even a basic touch. VOA’s George Putic reports.
Video

Video Former Sudan 'Lost Boy' Becomes Chess Master in NYC

In the mid-1980’s, thousands of Sudanese boys escaped the country's civil war by walking for weeks, then months and finally for more than a year, up to 1,500 kilometers across three countries. The so-called Lost Boys of the Sudan had little time for games. But one of them later mastered the game of chess, and now teaches it to children in the New York area. VOA’s Bernard Shusman in New York has his story.
Video

Video NASA Monitors Earth’s Vital Signs From Space

The U.S. space agency, NASA, is wrapping up its busiest 12-month period in more than a decade, with three missions launched in 2014 and two this month, one in early January and the fifth scheduled for January 29. As VOA’s Rosanne Skirble reports, the instruments being lifted into orbit are focused on Earth’s vital life support systems and how they are responding to a warmer planet.
Video

Video Crowded Republican Presidential Field Off to Early Start for 2016

It seems early, but the 2016 U.S. presidential election campaign is already heating up. Though no one has officially announced a candidacy, several potential Republican contenders have been busy speaking to conservative groups about making a White House run next year. Many of the possible contenders are critical of the Obama administration’s foreign policy record. VOA national correspondent Jim Malone reports.

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

All About America

AppleAndroid

World Currencies

EUR
USD
0.8837
JPY
USD
117.92
GBP
USD
0.6608
CAD
USD
1.2531
INR
USD
61.900

Rates may not be current.