China gets a slapping for aiding Iran

HT from Strategy page here.

The United States has ordered sanctions on two Chinese missile technology companies. The Chinese are accused of providing missile technology to Iran. One of the Chinese companies, China Great Wall Industry Corporation ("Great Wall" for short) has long been accused of aiding the North Korean missile effort. Great Wall is owned by the Chinese government, but is run for profit, and its managers are under orders to make money, or lose their jobs. Great Wall earns most of its profits by putting foreign satellites into orbit. Great Wall does this more cheaply than anyone else, and has had 24 successful launches for foreign customers so far. The two Chinese companies are major suppliers of missile technology to the Chinese armed forces, but the export business is where they rack up their biggest profits. The American sanctions block the Chinese firms from using any American banks in their dealings.