Reuters — Treasury’s Mnuchin: China may face new sanctions on North Korea

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Mike Norman
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“If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the U.S. and international dollar system, and that’s quite meaningful,” Mnuchin said.

You think the Chinese leadership is not planning how to teach the US a lesson immediatey after hearing this on the news? Or that US businesses going to sit quietly while their Chinese operations go down the tubes?

Pass the popcorn, but it's probably advisalbe to be eating in the Southern Hemisphere.

Reuters
Treasury's Mnuchin: China may face new sanctions on North Korea

Of course, whether the US would be willing to go so far as to use the nuclear option, and pull the dollar plug on its biggest trade partner, in the process immediately unleashing an economic depression domestically and globally is a different matter. So far Washington has been reluctant to impose economic sanctions on China over concerns of possible retaliatory measures from Beijing and the potentially catastrophic consequences for the global economy.…'

Predictably, North Korea's Foreign Ministry slammed the sanctions saying it “condemns in the strongest terms and categorically rejects” the United Nations adding more sanctions, North Korea’s state-run KCNA reported on Wednesday morning. Instead, North Korea warned it “will redouble efforts to increase its strength” as it seeks to establish “practical equilibrium” with U.S.

And so, not only is the entire geopolitical circle jerk back at square one, but the ball is again back in North Korea's court, while the decision on whether or not to launch another ICBM really depends on whether China will give it the quiet go ahead; a China which responds notoriously poorly to being threatened in the global financial arena, like for example when the US threatens to kick it out of the global dollar system...

Not just NK.

UPDATE:

Didn't take Russia and China long to answer.

Having both agreed to sign off on a watered-down version of the North Korea sanctions bill at the UN Security Council, Russia and China have issued a joint statement on the matter warning the US against pushing any further measures.

The two nations set out what they called “four nos.” This including ruling out efforts to impose regime change in North Korea, or collapse the regime there, or pushing “accelerated reunification,” or any military deployments into North Korean territory.
In addition to reiterating their opposition to the US attacking North Korea, these comments appear intended to push back against President Trump’s call to do much more against North Korea after the UN resolution, which he complained was “nothing” compared to what is to come....

Global markerts are discounting this. So far.