Economic bonhomie strengthens between China and North Korea

Economic bonhomie strengthens between China and North Korea
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Hong Kong: China seems to have fulfilled its promise of giving “large scale” aid to North Korea.
Beijing reopened its aid to Pyongyang in the form of fertilizer, food, and cooking oil, after Kim Jong-un’s surprise visit to China last month.

Chinascope is a media research company, which “gathers, translates, and periodically analyzes Chinese-language media reporting and documents that are generally inaccessible to the West.”

According to Chinascope, South Korea’s largest newspaper Chosun published two reports on how Beijing’s shot in Pyongyang’s arm is boosting North Korean economy.

“The fertilizer volume could have set a record high already, surpassing the 200,000 tons peak volume in 2013,” Chinascope stated.

China’s supply of crude oil to North Korea, if continued at the existing pace of 80,000 tons per month, will end up clocking 960,000 tons annually.

This is 400,000 tons more than the United Nations-sanctioned annual ceiling of 560,000 tons.

The UN-imposed restrictions are being disregarded in the supply of iron ore as well.

Despite the global body banning North Korea from exporting iron ore, “large number of iron ore trucks” rolled into China, as seen by many people, said Chinascope.

The China-North Korea bonhomie is visible on their border as well.

North Korea, on July 10, established a free trade market at its China border in Rason City, where Chinese people can enter without obtaining a visa.

This free trade market has enabled Pyongyang to obtain the much-needed foreign currencies. (ANI)