In: Economics
Write one page paper on economic sanctions with North Korea, will this bring necessary changes?
The economic sanctions with north korea,its overview on necesaary will and work:-
North Korea is not likely to strike Guam, South Korea, or anywhere else. Despite irrational and erratic behavior, they avoid direct attacks realizing the U.S. could wipe them off the map. They want to look tough, intimidate the region, and sound threatening, but not actually fight a war. Proposed sanctions show rare cooperation by China, Russia and America. Accounting for 90 percent of North Korea’s trade, China promises to “fully and strictly” apply the new restrictions.
The adopted UN sanctions can potentially deter North Korea from pursuing its nuclear program. These sanctions can have a significant financial impact since they cover major exports like coal and iron products. Revenues are also impacted by capping the number of workers abroad. To be successful in deterring North Korea, the sanctions must be strictly implemented. China, by far their largest trading partner, has announced steps to cut imports from North Korea.
The recently passed sanctions only affected $1 billion of North Korea’s $3 billion in trade, which still provides plenty of money to support their nuclear program. Plus the government of North Korea has shown that they have little concern for the welfare of their people, allowing them to starve and live in misery while devoting huge amounts of resources to the military. The only thing that will stop them is political pressure from China, so that might be the better target for economic pressure.
If Kim Jong Un appears weak, he will lose his power and his life. The more public pressure from the West, the more reckless and aggressive he will become. This is why a public wrestling match with President Trump scares me. The way to resolve the situation is for the U.S. to appear publicly to back down, with China acting behind the scenes to stop Korea’s nuclear program. China can solve this problem. Macho posturing by Trump cannot.
Buying time through sanctions is exactly the right solution. But sanctions have a nasty habit of being forgotten, and the Chinese are key. They need to be pressured. North Korea has relations and presumably trade with 181 nations. The sanctions need to cut off materials and science, not just food. This dictator regularly starves his people, so sanctions will take time because they have to translate, in his mind, to loss of power or regime, not to any moral standard.