İlknur Şebnem Öztemel-TDO-09.08.2017- Chinese Foreign Minister Wang Yi stated that Chinese government was ready to pay the price for denuclearization and stabilization on the Korean peninsula.
Wang said "If we consider traditional economic relations between China and North Korea, it is China that will have to pay most of the price for implementation of the latest resolution. However, for the sake of supporting international system of nuclear non-proliferation and to maintain peace and stability in the region, China, as always, will strictly and fully comply with respective resolutions," during the ASEAN forum in Manila.
United Nations Security Council (UNSC) adopted Resolution 2371 which orders tightening sanctions against Pyongyang regarding its latest missile tests on Saturday. The restrictions, targeting coal, iron, iron ore, lead and seafood imports from North Korea to UN member states. It is expected that sanctions would result in a huge decrease in North Korean earnings from current level of $3 billion to $1 billion.
Actually, western states were already prepared for these sanctions but the real struggle was Beijing’s expensive mine commerce from Pyongyang, especially huge amounts of coal. As a production giant, China chooses to use coal which can be qualified as a cheap source of energy. Nevertheless, Chinese coal resources are not enough to feed biggest manufacturer of the world. It is asserted that, aside from politics, Chinese authorities did not wanted to increase transport costs. In the light of the statistics given by Mongolian Statistics Institute, the amount of coal export to China raised 460% (*4,6) in the first six months of 2017.
Moreover, as Pyongyang lost its best consumer, success of nuclear studies is risked. It is unknown how long can North Korean citizens and Pyongyang sustain the project or what would be their response. Furthermore, there is also a probability for Kim Jong-Un to act more aggressively.