Tuesday, September 12, 2017

Reuters — Treasury's Mnuchin: China may face new sanctions on North Korea

“If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the U.S. and international dollar system, and that’s quite meaningful,” Mnuchin said.

This comes immediately after Russia and China signed on to new sanctions on North Korea.

You think the Chinese leadership is not planning how to teach the US a lesson immediatey after hearing this on the news? Or that US businesses going to sit quietly while their Chinese operations go down the tubes?

Pass the popcorn, but it's probably advisalbe to be eating in the Southern Hemisphere.

Treasury's Mnuchin: China may face new sanctions on North Korea
Of course, whether the US would be willing to go so far as to use the nuclear option, and pull the dollar plug on its biggest trade partner, in the process immediately unleashing an economic depression domestically and globally is a different matter. So far Washington has been reluctant to impose economic sanctions on China over concerns of possible retaliatory measures from Beijing and the potentially catastrophic consequences for the global economy.…'
Predictably, North Korea's Foreign Ministry slammed the sanctions saying it “condemns in the strongest terms and categorically rejects” the United Nations adding more sanctions, North Korea’s state-run KCNA reported on Wednesday morning. Instead, North Korea warned it “will redouble efforts to increase its strength” as it seeks to establish “practical equilibrium” with U.S.
And so, not only is the entire geopolitical circle jerk back at square one, but the ball is again back in North Korea's court, while the decision on whether or not to launch another ICBM really depends on whether China will give it the quiet go ahead; a China which responds notoriously poorly to being threatened in the global financial arena, like for example when the US threatens to kick it out of the global dollar system...
Zero Hedge
US Threatens To Cut Off China From SWIFT If It Violates North Korea Sanctions
Tyler Durden

Not just NK.


Didn't take Russia and China long to answer.
Having both agreed to sign off on a watered-down version of the North Korea sanctions bill at the UN Security Council, Russia and China have issued a joint statement on the matter warning the US against pushing any further measures.
The two nations set out what they called “four nos.” This including ruling out efforts to impose regime change in North Korea, or collapse the regime there, or pushing “accelerated reunification,” or any military deployments into North Korean territory.
In addition to reiterating their opposition to the US attacking North Korea, these comments appear intended to push back against President Trump’s call to do much more against North Korea after the UN resolution, which he complained was “nothing” compared to what is to come....
China and Russia Warn US Not to Seek North Korea Regime Change
Jason Ditz

Apparently DJT has received his orders from Bibi.

Oh, and you knew that DJT offered the position of secretary of state to Nikki Haley but she turned it down for US ambasador to the UN.
“The main issue for us was to get the president not to discard the JCPOA. But he had very strong feelings, backed by (U.S. Ambassador to the United Nations) Nikki Haley, that they should be more aggressive with Iran,” one of the two U.S. officials said.
Trump to weigh more aggressive U.S. strategy on Iran
Jonathan Landay, Arshad Mohammed, Steve Holland

Global markerts are discounting this. So far.


Jonf said...

Oh goodie. Let's lay some sanctions on China and really cut off our noses. WTF is wrong with these people?

Ryan Harris said...

Given the power of university elites in Government trade-policy and their free trade fetishes, US workers haven't been able to budge trade policy against the ideological elites.
So the only way to cut trade with China is to align with the military who wants to cut trade with China to secure domestic production capabilities and sanction China to foment war. It's important to have domestic weapon production capability. And you know the threats from NK and Iran are very real dangers.

All Trump supporters must do whatever it takes, even nuclear war, to rid the US government of the university elite menace. Personally, I don't think this strategy will work, I think we are going to have to find a pretense to jail academics. I'm thinking collusion with China sounds fairly plausible once we have a conflict brewing. We can follow the Russia! model as precedent and go on fishing expeditions to root out China sympathizers from government and university campuses.

For US workers, academics and their corporate patrons are enemy #1.

Matt Franko said...

Most recent trade deficit with China for July still right at all time highs..

Matt Franko said...

Looks like they're going to get the stick the carrot ain't working....

Tom Hickey said...

Poking sticks at dragons and bears is NOT a good strategy. There is no path to victory there.

Ryan Harris said...

War, violence despite its horrible injustice helps unite public opinion against dogmas. Peace and love only get a chance once fear and death focuses minds.