I came across this article while I was looking around on BBC during my lunch break. I thought that I was reading an article just about Macao and its rising status in the casino world, along with its descent into corruption. But as I continued reading about money laundering, the author took an interesting turn to the roots of North Korea's relationship with Macao.
I thought this was interesting because the US has signed an agreement to give $25 million to Pyongyang's government for the closing of a main nuclear reactor along with other incentives- but these funds were at one time frozen in Macao banks. This article claims that this agreement is heavily reliant upon the fate of Banco Delta Asia which was recently shut down because of it's illegal cooperation with North Korea.
Personally, I think that it was a bit silly for the US to agree to the transfer the $25 million to Macau in the first place... Not only does their banking system seem to be unreliable, but if the aid is delivered successfully, it seems like we are still just waiting upon North Korean leaders to follow through with their promises...
http://news.bbc.co.uk/2/hi/programmes/from_our_own_correspondent/6685173.stm
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haha I know that I'm commenting on my own article. But I realized that the article used the spelling "Macao" and I kept typing on and off "Macau"... oh bother.
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