• We do not have to wonder if Beijing in fact supports North Korea’s weapons programs. China for decades has allowed the North to use Chinese banks to handle proceeds from criminal activities and activities in violation of U.N. sanctions.
• Such designations [enforcing U.S. money-laundering laws] would put these state banks out of business everywhere outside China.
• If these banks were to fail, so would China’s state-dominated banking system. The failure of the banking system would undoubtedly mean the end of the Chinese economy and financial system. The end of the Communist Party’s political system could not be far behind.
• Whatever the effects of designations, the United States needs to enforce its laws. America did not allow Pablo Escobar to run criminal cash through New York, so why does America allow China to do that for North Korea?
• “The money Kim Jong Un obtains by fraud, computer hacking, and ransomware and which he uses to build bombs to threaten us is being laundered through our banks. We’re giving Xi Jinping and Kim de facto immunity to keep right on doing it.” — Joshua Stanton, expert on North Korean sanctions, to Gatestone.
• No wonder South Korea’s Yoon is not particularly impressed with America.
• South Korea is a signatory to the Nuclear Nonproliferation Treaty. If Seoul were to develop nuclear weapons, it would have to withdraw.
• Perhaps South Korea should withdraw. China, also a signatory, has been freely proliferating nuclear weapons technology to dangerous states, such as Pakistan and Iran, in addition to North Korea, and the United States has done little, sometimes nothing. At the same time, Washington repeatedly stopped South Korea and Taiwan from building nukes.
• Yoon did the world a favor by exposing the folly of America’s nonproliferation policy. Washington needs to stop being afraid of Beijing and start defending allies such as South Korea — and itself.

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