ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Following setbacks sustained by the Korean People’s Army and the crossing of the 38th parallel by the United Nations Command led by the United States Armed Forces, in October 1950 Chinese forces secretly crossed into North Korea in response to security concern of a possible U.S. invasion of Chinese territory.

Detailed explanation-2: -China remains invested in ensuring North Korea’s economic dependence, accounting for more than 90 percent of North Korea’s total reported imports and exports and facilitating Pyongyang’s efforts to obtain foreign currency in violation of sanctions.

Detailed explanation-3: -To avoid worsening the already tense relations with the Korean Peninsula, China refuses to grant North Korean defectors refugee status and considers them illegal economic migrants.

Detailed explanation-4: -banning the trade of gold, precious metals, and diamonds with the North Korean government. banning the import of minerals from North Korea, with some exemptions for coal and iron ore. banning the export of luxury goods. restricting financial support for trade with North Korea.