Updated: November 4, 2017 1:15:20 pm
Chinese traders are complaining about new UN sanctions on North Korea, saying they have all but dried up business in the border city of Dandong, reports news agency AP.
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.
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.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.