Skip to comments.Chinese company vents venom on North Korea
Posted on 08/18/2012 6:16:32 PM PDT by TigerLikesRooster
Chinese company vents venom on North Korea
By Michael Rank
China likes to claim that its relations with North Korea are "as close and lips and teeth" but those teeth are infected with a poisonous abscess so far as one Chinese company is concerned.
In an extraordinary attack, a Chinese mining company has accused the North Koreans of tearing up a multi-million-dollar deal, intimidating its staff, imposing outrageous extra charges and cutting off its power and water, as well as of corruption and demanding prostitutes whenever their North Korean counterparts visited China.
"Xiyang Group's investment in North Korea was a nightmare, and we were taking our lives in our hands when we entered the tiger's lair," the company says.
Xiyang Group, based in the northeastern province of Liaoning, says it was the biggest single Chinese investor in North Korea, having in 2011 signed a 240 million yuan (US$38 million) deal to form a joint venture iron mine that was to produce 500,000 tonnes of iron powder a year.
(Excerpt) Read more at atimes.com ...
It all boils down on the issue of 'who gets how much cut.' If this issue is not handled carefully, Kim Jong-eun will find himself in big trouble, along with his uncle Jang Sung-taek.
People with any amount of power are all busy pocketing themselves with money. They all believe their future is precarious. Money is the only insurance they can depend on. To many, it is the only thing that matters.
...a Chinese mining company has accused the North Koreans of tearing up a multi-million-dollar deal, intimidating its staff, imposing outrageous extra charges and cutting off its power and water, as well as of corruption and demanding prostitutes whenever their North Korean counterparts visited China.
I guess you could say that there is no honor among thieves and communists .... or is that redundant?
My dad and uncle grew up in China and say all the Chinese care about is money. Period.
So if North Korea keeps on wantonly socking China in the pocketbook, maybe China will think twice about propping the stupid place up.
You know the craven Chinese return North Koreans who escape to China even though it means certain death. I have nothing good to say about China. Or North Korea for that matter.
Maybe, though, with the capitocommunist thrust in China (the idea that wealth is glorious is a tiger they can’t release the tail of now), even the craven will finally quoth “Nevermore.” A rich North Korea safe in the arms of South Korea would mean so much more.
You’ve just described Cook County Illinois - the North Korea of America.
They cannot end the corruption for fear of losing power and being overthrown by their constituency. Yet, the corruption is killing them.
As we all know, “saving face” is crucial for Asians.
I’m wondering why this was publicized by China? (I assume not by the North Koreans.) The only things I can think of are
1) that the Chinese got so upset that they decided to try to publicly embarrass the North Koreans since nothing else worked, or
2) the Chinese are sick and tired of the North Koreans and intend to tell the world how bad they’ve been treated by their supposed “ally” in preparation for taking some sort of strong action against the North Koreans.
I have to say, it is a little like the kettle calling the pot black when you have Chicoms complaining about contract violations! All the same, Xijiang should have done a little research before entering into a ‘deal’ with such a monstrous regime.
China is hoping that the first move would shape up N. Korea, with some other pressure behind the scene. NK gov. may be able to punish those involved in this particular incident, but not stop this general trend without risking serious internal conflict. Then China has to think about the second move, which may well be very risky and costly. I don't think Chicom is on the verge of making the second move yet.
Kim Jong-eun is tearing down the financial structure of his adversaries, particularly the military. There was that military run investment fund he shut down, and now he’s tearing up that mining contract.
He is undoing the financial underpinnings of those who would challenge him, and rearranging the sources of revenue to suit his new order.
The powers that be in China that were profiting from the mining will not like this. Hence the article. I suspect the prostitutes etc. that they complain about so bitterly now have been going on for a long time. Only now do they complain as their financial ox is gored.