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

Video British Fighters on Frontline of Islamic State Information War

It’s estimated that several hundred British citizens are fighting for Islamic State alongside other foreign jihadists More

Pakistan's Political Turmoil Again Shines Spotlight on Military

Thousands of protesters calling for PM Sharif to step down continue protests in front of parliament, as critics fear political impasse could spur another military coup More

Photogallery Ebola Quarantines Spark Anxiety in Liberian Capital

Food prices rise sharply as residents attempting purchases clash with security forces, leaving one person dead 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.
Native Bees May Help Save Cropsi
X
Deborah Block
August 22, 2014 12:23 AM
U.S. President Barack Obama has called for a federal strategy to promote the health of bees that have been declining. The honeybee has been waning due to parasites, disease and pesticides. Wild bees may be used to take over their role as crop pollinators. Scientists first need to learn a lot more about wild bees, says biologist Sam Droege, who is pioneering the first national inventory on native bees. VOA’s Deborah Block went to his research laboratory in Beltsville, Maryland, to bring you more.
Video

Video Native Bees May Help Save Crops

U.S. President Barack Obama has called for a federal strategy to promote the health of bees that have been declining. The honeybee has been waning due to parasites, disease and pesticides. Wild bees may be used to take over their role as crop pollinators. Scientists first need to learn a lot more about wild bees, says biologist Sam Droege, who is pioneering the first national inventory on native bees. VOA’s Deborah Block went to his research laboratory in Beltsville, Maryland, to bring you more.
Video

Video US Defense Officials Plan for Long-Term Strategy to Contain Islamic State

U.S. defense officials say American air strikes in Iraq have helped deter Islamic State militants for the time being, but that a broad international effort is needed to defeat the extremists permanently. Defense Secretary Chuck Hagel warned Thursday that the group formerly known as the Islamic State in Iraq and the Levant, or ISIL, is better organized, and financially and militarily stronger than any other known terrorist group. Zlatica Hoke has more.
Video

Video Drug-Resistant Malaria Spreads in Southeast Asia

On Thailand’s border with Myanmar, also known as Burma, a malaria research and treatment clinic is stepping up efforts to eliminate a drug-resistant form of the parasite - before it spreads abroad. Steve Sandford reports from Mae Sot, Thailand.
Video

Video Gaza Conflict, Hamas Popularity Challenge Abbas

The Palestinian unity government of Mahmoud Abbas has failed to convince Hamas to agree to Egyptian-negotiated terms with Israel on a Gaza cease-fire. VOA State Department Correspondent Scott Stearns reports on what the Gaza conflict means for President Abbas, with whom U.S. officials have worked for years on a two-state solution to the Israeli-Palestinian conflict.
Video

Video Nigeria's 'Nollywood' Movie Industry Rolls in High Gear

Twenty years after its birth in a video shop in Lagos, Nigeria's "Nollywood" is one of the most prolific film industries on earth. Despite low budgets and whirlwind production schedules, Nigerian films are wildly popular in Africa and industry professionals say they hope, in the future, their films will be as great in quality as they are in quantity. Heather Murdock has more for VOA from Lagos.
Video

Video UN Launches 'Biggest Aid Operation in 30 Years' in Iraq

The United Nations has launched what it describes as one of the biggest aid operations in 30 years in northern Iraq, as hundreds of thousands of refugees flee the extremist Sunni militant group calling itself the Islamic State. As Kurdish and Iraqi forces battle the Sunni insurgents, the fighting has forced more people to flee their homes. Kurdish authorities say the international community must act now to avert a humanitarian catastrophe. Henry Ridgwell reports for VOA from London.
Video

Video Cambodian American Hip Hop Artist Sings of Personal Struggles

A growing underground movement of Cambodian American hip hop artists is rapping about the struggles of living in urban America. Most, if not all of them, are refugees or children of refugees who came to the United States from Cambodia to escape the Khmer Rouge genocide of the 1970s. Through their music, the artists hope to give voice to immigrants who have been struggling quietly for years. Elizabeth Lee reports from Long Beach, California.
Video

Video African Media Tries to Educate Public About Ebola

While the Ebola epidemic continues to claim lives in West Africa, information technology specialists, together with radio and TV reporters, are battling misinformation and prejudice about the disease - using social media to educate the public about the deadly virus. VOA’s George Putic has more.

AppleAndroid

World Currencies

EUR
USD
0.7492
JPY
USD
102.27
GBP
USD
0.5960
CAD
USD
1.0950
INR
USD
61.300

Rates may not be current.