Well, ain't this a piece of good news. Then again, it confirms what I've said in my last posting about the situation with North Korea. In this new development, by the New York Times, it turns out the Bank of China, one of its state-owned commercial banks, has cut ties to some North Korean banks (essentially refusing to lend them any more money). The reason for saying that this is a positive step and is a real step in showing China's growing frustration is that North Korea has largely been ignoring all kinds of warnings telling it not to continue on with its illegal nuclear weapons program, nor more provocative actions. Only now can we see what steps North Korea will take in response. Maybe in the next week, or several, I think the North Koreans will start launching massive threatening volleys at the Chinese, and perhaps, at the Russians as well, since both seem committed to implementing the newer and heavier sanctions just passed in March.
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