BEIJING (AP) – Chinese traders are complaining about new U.N. sanctions on North Korea, saying they have all but dried up business in the border city of Dandong.
They say they’re unable to collect payment from impoverished North Korean state companies for goods such as toothpaste, instant noodles and other household items.
Large-scale trade involving North Korean iron ore and coal has been banned entirely, dealing a big blow to Dandong’s port, whose operator defaulted on a $150 million corporate bond.
In this Sept. 11, 2017 photo, Chinese custom officials inspect trucks loaded with goods to and from North Korea in Dandong in northeast China’s Liaoning province. For Chinese traders, new United Nations sanctions on North Korea are a disaster. Business in the Chinese border city of Dandong has all but dried up as Chinese traders are unable to collect payment from impoverished North Korean state companies for goods such as toothpaste, instant noodles and other household items. Large-scale trade involving North Korean iron ore and coal has been banned entirely, dealing a big blow to Dandong’s port, whose operator defaulted on a $150 million corporate bond. (Chinatopix via AP)
China has long been the North’s biggest economic partner. Beijing accounted for more than 90 percent of its neighbor’s foreign trade of about $6.5 billion in 2016, and continues to be a key source of food and fuel aid to help keep North Korea’s weak economy from collapsing.
FILE – In this Sept. 4, 2017, file photo, trucks cross the friendship bridge connecting China and North Korea in the Chinese border town of Dandong, opposite side of the North Korean town of Sinuiju. For Chinese traders, new United Nations sanctions on North Korea are a disaster. Business in the Chinese border city of Dandong has all but dried up as Chinese traders are unable to collect payment from impoverished North Korean state companies for goods such as toothpaste, instant noodles and other household items. Large-scale trade involving North Korean iron ore and coal has been banned entirely, dealing a big blow to Dandong’s port, whose operator defaulted on a $150 million corporate bond. (AP Photo/Helene Franchineau, File)
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