China and USA Face Off with North Korea

China and USA Face Off with North Korea

The US is looking forward to working with China to solve the North Korean nuclear threat. But while Washington is mustering its forces in the Korean peninsula, Beijing insists on finding a peaceful solution to Pyongyang’s “denuclearization.”

Less than a week after US President Donald Trump met with his Chinese counterpart Xi Jinping, the two leaders once again engaged on Wednesday, where among other things they discussed the North Korean threat.

“President Xi wants to do the right thing. We had a very good bonding, I think we had a very good chemistry together, I think he wants to help us with North Korea,” Trump said after the meeting with NATO’s chief in Washington.

“We talked trade, we talked a lot of things, and I said the way you’re going to make a good trade deal is to help us with North Korea, otherwise we’re just going to go it alone, that’ll be all right too, but going it alone means going with lots of other nations,” Trump added.

The Chinese leader said China is committed to the “denuclearization” of the Korean Peninsula but “insists on preserving peace and stability.”

“China advocates to resolve the issue through peaceful means, and is willing to maintain communication and coordination with the US on the Korean Peninsula issue,” President Xi’s readout said, as quoted by the Times magazine.

China has already begun to apply economic pressure on the North by refusing to import Pyongyang’s coal.

“I really think that China’s going to try very hard and has already started. A lot of the coal boats have already been turned back,” Trump told Fox Business Network on Wednesday, adding that “that’s a big step.”

China’s official Global Times daily said Beijing would support harsher UN sanctions against North Korea, including “strictly limiting” oil exports to Pyongyang.

US-China rapprochement on the Korean issue comes after a series of Trump statements which explicitly stated that Washington might act alone if China refuses to participate in an American campaign against North Korea.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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