Trump could end China’s economy by sanctioning its banks: Gordon Chang
Author of ‘Nuclear Showdown’ Gordon Chang and former CIA analyst Sue Mi Terry on President Trump’s trade actions against China.
“Nuclear Showdown” author Gordon Chang on Wednesday said the Trump administration should put more sanctions on Chinese banks, in order to convince them to keep North Korea under control.
“Once the president unplugs a big Chinese bank that’s all he needs to do because then Xi Jinping, the Chinese ruler, realizes he’s actually got to come to the party on trade, North Korea, South China Sea, you name it. Because putting Chinese banks into the tank, that’s the end of the Chinese economy,” he told FOX Business’ Neil Cavuto.
Chang explained how China would have no problem keeping North Korea under control, if it so desired.
“More than 90 percent of North Korea’s two-way trade is with China, 92 percent last year. China supplies more than 90 percent of North Korea’s crude oil, much of it on concessionary terms. But the most important thing China supplies to the North Korean regime is confidence, confidence that they are safe from the international community. If China were to signal that they were withdrawing support, you would see the people around Kim Jong-un start to scatter,” he said.