Name: Who's doing business with North Korea? | CNBC Explains
Uploaded: 2018-07-24T01:58:10.000Z
Duration: 5 min 12 s
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Modal verbs - B1

It may look like your typical fast food joint,

but the businessman behind this Singapore-based

restaurant has made history in North Korea.

He opened the country's first fast food restaurant

But who would want to do business with North Korea?

At least 80 countries traded with North Korea last year.

North Korea continues to be hit by U.N. and

In fact, its economy grew at its fastest pace

North Korea's most important ally is China.

The Chinese border town of Dandong is separated

At least 80 percent of North Korea's trade is with China,

and two-thirds of that trade reportedly goes through

this single-laned bridge connecting the two countries.

and last year, China bought $1.2 billion worth of it.

The Chinese also have a huge appetite for its seafood,

which is perceived to be cleaner and tastier.

China has been putting more pressure on its neighbor.

It suspended coal imports and banned banks

from providing financial services to North Korea.

In September, Chinese sanctions began to bite.

Chinese imports of coal were down more than 70 percent,

while its exports of petrol fell by almost 100 percent.

the first card didn't go to Chinese leaders,

but instead to Russian President Vladimir Putin.

The Soviet Union made up half of North Korean trade

for almost thirty years, until it collapsed in the 1990s.

But Russia is ramping up its involvement.

It announced in 2015 that it wants to increase trade

with North Korea ten-fold to a billion dollars by 2020.

Bilateral trade between the two countries

Russia's trade with North Korea more than doubled

President Vladimir Putin recently said Russia exports

40,000 tons of oil to North Korea a quarter.

Siberia faces persistent labor shortages.

The U.S. State Department estimates that around

making an estimated $170 million for the regime.

It's estimated that more than 50,000 North Korean

workers are employed in foreign countries,

but also in countries like Qatar, Malaysia and Poland.

$1.2 and $2.3 billion annually from exported labor.

it sells weapons to a vast global network.

Sources estimate that North Korea made $300 million

and its list of clients is large and varied.

The U.N. intercepted two North Korean arms shipments

Other North Korean customers include Iran and Yemen.

North Korean money-making machine is Africa.

Goods traded with North Korea across Africa

amount to more than $100 million annually.

The U.N. is investigating seven African countries

for possible violations of its sanctions on North Korea,

ranging from military training to weapons sales.

In the midst of a lot of this activity seems to be

building everything from ammunition factories

The U.N. estimates that tens of millions are