The Wall Street Journal reports: "U.S. Secretary of State John Kerry is expected to press China to do more to address North Korea's recent nuclear test and try to calm increasing tensions stemming from maritime disputes in the South China Sea....The U.S. wants Beijing to support tough international sanctions and to take independent steps to press Pyongyang to change course....China has said that it is the U.S. that has made things worse with North Korea and that China alone can't persuade North Korea to abandon its nuclear program....Washington is considering a range of unilateral responses to North Korea's nuclear test, including sanctions. So-called secondary sanctions target third-party countries and would affect mainly China because it is North Korea's main trading partner."
The New York Times reports: "Sanctions against Iran failed to halt the construction of the complex, a steel mill that went into operation in September and now churns out ingots and billets. The sanctions also did not stop Sheng Kuan Li, a Chinese businessman, from pouring $200 million into the project. Mr. Li is one of many Chinese investors who in recent years worked around the sanctions imposed on Iran by the United States and other world powers over Tehran's nuclear program....On Saturday, [Iran and China] agreed to increase trade to $600 billion in the coming decade."
Reuters reports: "Chinese shares began the week on a firmer note on Monday, extending gains from Friday after a rally in battered oil prices sparked a rise in Asian equities....After surging 10 percent on Friday and helping Wall Street rise over 2 percent, oil held gains during the Asian day on Monday, though they slipped back after Chinese markets closed....Chastened by the market's bearish reaction to an early January depreciation in the yuan, the People's Bank of China (PBOC) has kept the yuan's daily midpoint fixing CNY=SAEC little changed for the past two weeks."