SoylentNews

China to Shut Down North Korean Companies

posted by Fnord666 on Saturday September 30 2017, @05:03PM   
from the another-brick-in-the-wall dept.

MrPlow writes:

Submitted via IRC for guy_

China has told North Korean companies operating in its territory to close down as it implements United Nations sanctions against the reclusive state.

The companies will be shut by early January. Joint Chinese and North Korean ventures will also be forced to close.

China, Pyongyang's only major ally, has already banned textile trade and limited oil exports.

The move is part of an international response to North Korea's sixth and most powerful nuclear test.

The UN Security Council, of which China is a member, voted unanimously for fresh sanctions on 11 September.

China's commerce ministry said it had set a deadline of 120 days from the passing of the resolution for any North Korean companies within its borders to close.

Source: http://www.bbc.com/news/world-asia-41431057

---

Original Submission

• Re:Torture,repression,escalation,starvation,povert (Score: 0) by Anonymous Coward on Sunday October 01 2017, @02:00AM

  by Anonymous Coward on Sunday October 01 2017, @02:00AM (#575444)

  > All he has to do is look south to see the enormous political and social success that comes from embracing the values he's so busily repressing in North Korea.

  To the south, the guy who was running Samsung is doing 5 years in prison. [soylentnews.org] Britannica says [britannica.com]

  Chaebol involvement in politics has fostered corruption, including the bribing of prominent South Korean politicians such as former presidents Chun Doo-Hwan and Roh Tae-Woo during their terms in office. The payments made to them were estimated in the hundreds of millions, and perhaps billions, of dollars, and both men were later tried and convicted on corruption charges.

  It goes on with other, similar instances. The South Korean economy, as that article reveals, is dominated by a few monopolistic, family-owned companies. Kim Jong-un, it seems to me, is unlikely to be charged with corruption or anything else. Meanwhile, former South Korean political and business leaders are imprisoned. His personal situation is better than theirs.

  In 1950, North Korea attracted (earned, if you like) the enmity of the United States, which has persisted. North Korea is shunned by other countries too. Even China has agreed to restrict trade. Were North Korea to adopt a capitalistic economy, it might still be shunned. If the rest of the world adopted a friendly stance toward the North Koreans, it would still be backward, at least at first. Infrastructure and educational attainment would be lacking.

  Were a decision made to emulate South Korea as much as possible, it would be radical change. It would certainly mean massive disruption. Were Kim Jong-un to retain the autocratic power he now has, the perception would be that the change was incomplete or a sham. Were he to step down or share power, he might be held to account for what he's done. The punishment could be harsher than a five-year imprisonment.

  Parent