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From VOA Learning English, |
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this is the Economics Report. |
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Recent Chinese trade information |
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shows that China's exports to North Korea |
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decreased by more than 30 percent |
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during the first six months of 2013. |
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This is the first time in four years |
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that exports have fallen. |
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Exports decreased by about $1.6 billion |
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from January to June, |
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compared to the same period last year. |
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The last time exports from China |
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to North Korea dropped was in 2009, |
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because of the world financial crisis. |
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This year, there was a large decrease |
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in shipments of unprocessed oil to North Korea. |
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Lu Chao studies at the Liaoning |
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Academy of Social Sciences, |
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based on government data, |
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he says China is the biggest oil provider to North Korea. |
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He said last year China exported |
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500,000 tons of oil to the country. |
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Mr Lu says China place trade restrictions |
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on North Korea this year, after its third nuclear test. |
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He says the Chinese government made the decision |
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based on a U.N. Security Council resolution. |
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North Korea's decision to carry out |
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its third nuclear test earlier this year |
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has affected the relationship between the two countries. |
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Following the test, Chinese students called on |
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the government to completely cut ties with North Korea. |
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protesters denouncing what they felt |
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was Chinese government acceptance of a nuclear test. |
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However, Chinese officials have condemned the test. |
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They have also repeatedly called |
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for the continuation of six-nation talks |
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aimed at ending the country's nuclear weapons program. |
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In May, the government operated People's Bank of China |
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announced it was no longer doing business |
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with North Korea's foreign trade bank. |
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Last week, China's Vice President Li Yuanchao |
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visited North Korea for the first time |
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since Kim Jong Un became North Korea's leader. |
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The two were seen together, smiling |
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and waving to crowds during ceremonies |
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marking the 60th anniversary of the end of the Korean War. |
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Mr Lu says, although the Vice President visited North Korea, |
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relations between the two countries are still developing. |
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He says the old alliance is now turning into |
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a normal friendly relationship between two countries. |
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Recently, officials from the United States and South Korea met. |
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They announced their plan to continue |
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placing restrictions on North Korea, |
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and to seek more assistance from China in the process. |
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And that's the Economics Report from VOA Learning English. |