A major diplomatic victory 2

President Trump may have actually persuaded China to stop all financial transactions with North Korea.

According to the Washington Times –

Treasury Secretary Steven T. Mnuchin called the head of China’s central bank very early Thursday to alert him that Mr. Trump was preparing an executive order to sanction any financial institutions doing business with North Korea.  He asked for the cooperation of China, the main source of North Korea’s cash. Hours later, the People’s Bank of China announced it was directing all other banks in China to halt financial transactions with North Korea.

China is complying with US demands?

Will it really happen? Will the freeze last as long as it needs to?

Mnuchin said the sanctions will be more effective than previous efforts because Treasury now has the authority to “freeze or block any transactions, with any financial institution, anywhere in the world”. 

If the US Treasury now has that power and uses it fully, then this is, as the Washington Times report says, “a major diplomatic victory” for President Trump.

It will surely be impossible for Kim Jong-un’s totalitarian Communist regime to survive such sanctions. The regime has been almost wholly dependent on China, and only able to fund its missile and nuke arsenals because China supported it.

So this is an enormously important – as well as extremely dramatic – development in world affairs. Not only because it can defeat Kim Jong-un, but perhaps even more importantly, because it has brought China into compliance with America’s wishes.

If it really happens, it is a towering achievement of President Trump. 

Posted under China, North Korea, United States by Jillian Becker on Friday, September 22, 2017

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This post has 2 comments.

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  • liz

    This is great news! I hope he does this next with Pakistan.
    And then dumps the Iran deal. Then prosecutes…the list is too long!

  • BobC

    Very interesting. I didn’t know about this. It’s about time China is doing the right thing. Well done Mr. Trump.