Tag: China

China Breaks International Sanctions and Provides $56 Million in Aid to North Korea

You can always count on the Chinese to bust international sanctions:

China has provided rice and fertilizer to North Korea, Chinese data showed Sunday, amid U.N. Security Council (UNSC) sanctions against the North that prohibit any large-scale economic assistance.

According to data from China’s customs office, Beijing provided 1,000 tons of rice, worth about US$1 million, to the impoverished North between May and October of 2018.
The data showed Beijing also provided 162,000 tons of fertilizer, worth more than $55 million, to the North.

The shipments of what appears to have been free assistance followed North Korean leader Kim Jong-un’s visit to China in March 2018, when he held his first summit with Chinese President Xi Jinping.

Yonhap

You can read more at the link, but China is providing this free aid to a country that purchased $640 million in luxury goods from them.

Amazon Closes Their Chinese Domestic Marketplace

Is China trying to protect local businesses from international competition or does Amazon just suck at selling goods in China as Chinese critics claim?:

 Amazon says it is curtailing business operations in China, the world’s biggest retail market, after struggling against better entrenched local players for more than a decade. 

The company announced recently that as of July 18, it will no longer provide services through its Chinese website, Amazon.cn. The decision means Amazon will stop selling goods from China-based vendors to domestic consumers on the portal. Although it is moving out of the e-retail business in China, Amazon will continue with its cross-border business, bringing foreign brands and goods to China, the company said.

“Their demand for high-quality, authentic goods from around the world continues to grow rapidly, and given our global presence, Amazon is well-positioned to serve them,” the company said.

The announcement has raised questions about the extremely thin presence of foreign companies in internet-related businesses in China, while Chinese companies like Alibaba create market space for themselves across the world.

VOA News

You can read more at the link.

Picture of the Day: Korean War Remains Returned to China

S. Korea returns remains of 10 Chinese war dead
S. Korea returns remains of 10 Chinese war deadChinese Ambassador to South Korea Qiu Guohong drapes a Chinese flag over a box containing the remains of a Chinese soldier killed in the 1950-53 Korean War at Incheon International Airport, west of Seoul, on April 3, 2019. The repatriation is the sixth of its kind since South Korea and China agreed in 2014 to bring back the remains of Chinese soldiers who were killed while fighting alongside North Korean soldiers during the three-year conflict. (pool photo) (Yonhap)