Following President Donald Trump’s speech at the United Nations, China has been taking drastic measures to cut ties with the North Korean regime.
Earlier this month, China’s largest banks banned North Koreans from opening new accounts in a move intended to clamp down on financial flows to North Korea. Some of the banks are “cleaning out” existing accounts held by North Koreans. Remittances to North Korea have also been banned, preventing any money from flowing into the country from China at all.
That was just the first phase, as now it’s North Korea’s business interests in China that are being targeted. China is also complying with new UN sanctions against the nation. According to the Daily Caller:
The Chinese government has ordered all North Korean firms in the country to shut down within the next few months.
China’s Ministry of Commerce announced Thursday that North Korean companies and joint ventures will close within 120 days of the most recent United Nations sanctions resolution, according to multiple reports.
China has long been North Korea’s primary beneficiary for decades, helping the rogue regime skirt sanctions by exploiting the “livelihood clause” in past resolutions, but since President Donald Trump took office, the U.S. has put increased pressure on China to rein in its nuclear neighbor.
The U.S. has threatened on multiple occasions to cut trade with countries that do business with North Korea in violation of U.N. resolutions, and last week, Trump signed an executive order allowing the U.S. to blacklist any company, firm, or individual caught illegally aiding the North Korean regime. The president put the world on notice, telling countries they can do business with the U.S. or North Korea, but not both.
Those are results that couldn’t be in starker contrast to Barack Obama’s strategy, which included writing personal letters to Kim Jong-il, “Rocket Man’s” father, and bribing them with food.
Yes — really. It was last week’s episode of the cartoon South Park where one of the characters tries to make peace with North Korea by baking them cupcakes. Who knew it wasn’t all too far off from reality…