Donald Trump says China ‘caught red handed’ allowing oil into North Korea

Agencies
December 29, 2017

Washington, Dec 29: US President Donald Trump on Thursday said China has been “caught” allowing oil into North Korea and said such moves would prevent “a friendly solution” to the crisis over Pyongyang’s nuclear program.

“Caught RED HANDED – very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!” Trump wrote in a post on Twitter.

China earlier on Thursday said there had been no U.N. sanction-breaking oil sales by Chinese ships to North Korea after a South Korean newspaper said Chinese and North Korean vessels had been illicitly linking up at sea to get oil to North Korea.

An official of the U.S. State Department said the U.S. government was aware of vessels engaged in such activity involving refined petroleum and coal. “We have evidence that some of the vessels engaged in these activities are owned by companies in several countries, including China,” the official said, speaking on condition of anonymity.

South Korea’s Chosun Ilbo newspaper this week quoted South Korean government sources as saying that U.S. spy satellites had detected Chinese ships transferring oil to North Korean vessels around 30 times since October. US officials have not confirmed details of this report.

The Trump administration has led a drive to step up global sanctions on North Korea in response to Pyongyang’s efforts to develop nuclear-tipped missiles capable of hitting the United States. Washington says the full cooperation of China, North Korea’s neighbor and main trading partner, is vital to the success of this effort, while warning that all options are on the table, including military ones, in dealing with North Korea.

The UN Security Council last week unanimously imposed new sanctions on North Korea for a recent intercontinental ballistic missile (ICBM) test, seeking to further limit its access to refined petroleum products and crude oil.

The US-drafted U.N. resolution seeks to ban nearly 90 percent of refined petroleum exports to North Korea by capping them at 500,000 barrels a year. It also caps crude oil supplies to North Korea at 4 million barrels a year and commits the Security Council to further reductions if Pyongyang conducts another nuclear or ICBM test. Documents seen by Reuters this month showed Washington called on the Security Council to blacklist 10 ships for circumventing sanctions by conducting ship-to-ship transfers of refined petroleum products to North Korean vessels or transporting North Korean coal. China and Russia subsequently asked for more time to consider the proposal.

The ships targeted for blacklisting were the Xin Sheng Hai (flag unknown); the Hong-Kong-flagged Lighthouse Winmore; the Togo-flagged Yu Yuan; Panama-flagged Glory Hope 1 (also known as Orient Shenyu), Kai Xiang and Billions No. 18; and the North Korean-flagged Ul Ji Bong 6, Rung Ra 2, Rye Song Gang 1, and Sam Jong 2. In September, the Security Council put a cap of 2 million barrels a year on refined petroleum products exports to North Korea.

China has repeatedly said it is fully enforcing all resolutions against North Korea, despite suspicion in Washington, Seoul and Tokyo that loopholes still exist. Asked at a regular briefing whether Chinese ships were illegally providing oil to North Korean ships, Chinese Defence Ministry spokesman Ren Guoqiang reiterated that China, including the military, strictly enforced U.N. resolutions. “The situation you have mentioned absolutely does not exist,” he said.

A State Department spokesman, Michael Cavey, reiterated on Wednesday that the United States had called on all countries to cut economic ties with North Korea. “We urge China to end all economic ties with the DPRK, including tourism, and the provision of any oil or petroleum products, and expel all DPRK workers,” he said, using the acronym for North Korea’s official name, the Democratic People’s Republic of Korea.

Harry Kazianis, director of defense studies at the conservative Center for the National Interest, said China would “never, ever enforce the sanctions to the satisfaction of President Trump,” in spite of the effort the U.S. president had invested in developing a personal relationship with China’s president, Xi Jinping. “With President Trump’s latest Tweet it seems the ‘Bromance’ between him and President Xi is finally over,” he said.

“This was always bound to happen. China is actually more afraid of North Korea than America,” Kazianis said, citing Chinese concerns about instability or collapse in North Korea if sanctions were fully applied.

US Democratic Senator Ed Markey, a member of the Senate Foreign Relations Committee, said on Twitter the North Korean threat had only increased since Trump took office and he had to find a way to get China to cut off crude oil supplies. “The solution is a coherent strategy, not bluster,” he said.

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News Network
June 30,2020

Beijing, June 30: China said on Tuesday it was concerned about India’s decision to ban Chinese mobile apps such as Bytedance’s TikTok and Tencent’s WeChat and was making checks to verify the situation.

Chinese foreign ministry spokesman Zhao Lijian told reporters during a daily briefing that (the Prime Minister Narendra Modi-led government of) India has a responsibility to uphold the rights of Chinese businesses.

India on Monday banned 59, mostly Chinese, mobile apps in its strongest move yet targeting China in the online space since a border crisis erupted between the two countries this month.

The apps are “prejudicial to the sovereignty and integrity of India, the defence of India, the security of state and public order", the ministry of information technology said in a statement, which came two weeks after 20 Indian Army personnel were killed in a violent clash on the India-China border in Ladakh.

The companies have been invited to offer clarifications before a government panel, which will decide whether the ban can be removed or will stay.

The move also came ahead of military and diplomatic talks between India and China scheduled this week.

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April 5,2020

Washington, Apr 5: US President Donald Trump on Saturday said that he has requested Prime Minister Narendra Modi to supply Hydroxychloroquine tablets that can be used to treat COVID-19 patients.

"After call today with Indian Prime Minister Narendra Modi, India is giving serious consideration to releasing the hold it put on a US order for hydroxychloroquine," Trump announced at the White House Coronavirus task force briefing that he requested PM Narendra Modi for more Hydroxychloroquine tablets.

President Trump did not shy away from saying he too will take a tablet of hydroxychloroquine after announcing that he has requested Prime Minister during his telephonic conversation earlier today to lift a hold on the US order of the medicine.

"I may take it too, will have to talk to my doctors," he added.

"India makes a lot of it. They need a lot too for their billion-plus people. 

The hydroxychloroquine, the anti-malaria drug will be released through the Strategic National Stockpile for treatment," he said.

"I said I would appreciate if they would release the amounts that we ordered" of hydroxychloroquine, he said.

The Indian government has put on hold the export of anti-malarial drug hydroxychloroquine and its formulations.

Prime Minister Narendra Modi said on Twitter, "Had an extensive telephone conversation with President @realDonaldTrump. 

We had a good discussion, and agreed to deploy the full strength of the India-US partnership to fight COVID-19."

Prime Minister conveyed deep condolences for the loss of lives in the United States and his prayers for the early recovery of those still suffering from the disease.

As on Sunday, the United States has at least 301,902 cases of coronavirus according to Johns Hopkins University's tally. 

At least 8,175 people have died in the US from coronavirus.

There was a steep rise in the number of cases in the last 24 hours. At least 23,949 new cases were reported, and at least 1,023 new deaths in the US have been reported in the last 24 hours.

US Secretary of State Michael Pompeo had discussions with External Affairs Minister S Jaishankar about the importance of continued close cooperation between the United States and India to combat coronavirus by strengthening global pharmaceutical supply chains.

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News Network
May 6,2020

Washington, May 6: At a time when the coronavirus pandemic has squeezed them, multi-national companies in America are laying off workers while paying cash dividends to their shareholders. Thus making the workers bear the brunt of the sacrifices while the shareholders continue to collect.

The Washington Post said in one of its reports that five big American companies have paid a combined USD 700 million to shareholders while cutting jobs, closing plants and leaving thousands of their workers filing for unemployment benefits.

Since the pandemic was declared an emergency, Caterpillar has suspended operations at two plants and a foundry, Levi Strauss has closed stores, and toolmaker Stanley Black & Decker has been planning layoffs and furloughs.

Steelcase, an office furniture manufacturer, and World Wrestling Entertainment have also shed employees.

Executives of those companies told the Post that the layoffs support the long-term health of their companies, and often the executives are giving up a piece of their salaries. Furloughed workers can apply for unemployment benefits.

But distributing millions of dollars to shareholders while leaving many workers without a paycheck is unfair, critics argue, and belies the repeated statements from executives about their concern for employees' welfare during the coronavirus crisis.

Caterpillar, for example, announced a USD 500 million distribution to shareholders April 8, about two weeks after indicating that operations at some plants would stop. The company however declined to divulge how many workers are affected.

"We are taking a variety of actions globally, but we aren't going to discuss the number of impacted people," spokeswoman of the company, Kate Kenny, said in a reply to an email by the Post.

This spate of dividends is also likely to revive long-standing debates about economic rewards.

"There are no hard-and-fast rules about this," said Amy Borrus, deputy director of the Council of Institutional Investors, a group that argues for shareholder rights and represents pension funds and other long-term investors.

Many large US companies choose to issue a regular, quarterly dividend to shareholders, often increasing it, and they boast about these payments because they help keep the share price higher than it might otherwise be. Those companies might be reluctant to announce that they are cutting or suspending their dividend during a crisis, Borrus was further quoted as saying.

But "companies have to be mindful of the optics of paying dividends if they're laying off thousands of workers," she added.

On March 26, Caterpillar had announced that because of the pandemic, it was "temporarily suspending operations at certain facilities." Two plants, in East Peoria, Ill., and Lafayette, Ind., were coming to a halt, as well as a foundry in Mapleton, Ill., according to news reports.

"We are taking a variety of actions at our global facilities to reduce production due to weaker customer demand, potential supply constraints and the spread of the covid-19 pandemic and related government actions," Kenny said via email.

"These actions include temporary facility shutdowns, indefinite or temporary layoffs," she added.

Similarly, Levi Strauss announced April 7 that the company would stop paying store workers, and about 4,000 are now on furlough. On the same day, the company announced that it was returning USD 32 million to shareholders.

"As this human and economic tragedy unfolds globally over the coming months, we are taking swift and decisive action that will ensure we remain a winner in our industry," Chip Bergh, president and chief executive of the company, also told the Post.

Stanley Black & Decker announced on April 2 that it was planning furloughs and layoffs because of the pandemic. Two weeks later, it issued a dividend to shareholders of about USD 106 million.

The notion that a company's primary purpose is to serve shareholders gained prominence in the 1980s but has come under attack in recent years, even from business executives, the newspaper reported.

Corporate decisions to suspend dividends and buybacks are complex, however, and it is difficult to know whether these suspensions of dividend and buyback programs were motivated by a desire to conserve cash in anticipation of bad times, and how much they are prompted by a sense of obligation to employees.

Over recent decades, the mandate to "maximize shareholder value" has become orthodoxy, for many, and it is often unclear what motivates companies to pare dividends or buybacks for shareholders, said William Lazonick, an emeritus economics professor at the University of Massachusetts at Lowell, who has been one of the leading critics of companies that distribute cash to shareholders through stock buybacks and dividends rather than reinvesting the profits into employees, innovation and production.

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