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Pyongyang citizens gathering to mourn in front of a portrait of late North Korean leader Kim Jong-il at the Pyongyang Gymnasium. Photo: KCNA / AFP / Getty Images

Sanctions against North Korea could increase cases of acute malnutrition among children, and hamper humanitarian efforts, according to a Washington Post report.

Why it matters: While sanctions were enforced with the intent of punishing the regime for its nuclear threats and missile launches, an American neurosurgeon who operates in North Korea, Kee Park, told the Post "they're hurting the wrong people."

  • The U.K. announced last month it would cut off aid to North Korea.
  • South Korea hasn't "delivered on its September pledge to give $8 million to the World Food Program and UNICEF for children and pregnant women," the Post reports.
  • The U.N. resident coordinator in Pyongyang, Tapan Mishra, wrote to U.N. officials that "crucial relief items, including medical equipment and drugs, have been held up for months...they are not on the list of sanctions items."
  • A humanitarian worker in Pyongyang told the Post said Chinese suppliers "have decided that it's not worth the exposure or the risk of their reputations" to continue sending supplies, despite not sending anything already banned by sanctions.

Go deeper

Dan Primack, author of Pro Rata
51 mins ago - Economy & Business

Trump blocks banks from limiting loans to gun and oil companies

Illustration: Sarah Grillo/Axios

Big banks are no longer allowed to reject business loan applicants because of the industry in which they operate, according to a new rule finalized on Thursday by the Trump administration.

Why it matters: Wall Street has curtailed its exposure to industries like guns, oil and private prisons, driven by both public and shareholder pressures. This new rule could reverse that trend.

Former FDA commissioner: "Reliable drug supply is absolutely critical"

Axios' Caitlin Owens and former FDA commissioner Mark McClellan. Photo courtesy of Axios Events

Having a reliable supply of pharmaceutical drugs throughout America will be "absolutely critical" to boosting affordability in health care during the Biden administration, former Food and Drug Administration (FDA) commissioner Mark McClellan said at a virtual Axios Event on Friday.

The big picture: McClellan, who served under President George W. Bush, says drugs having limited supply and limited competition leads to elevated pricing. He considers drug supply to be a national security and public health issue.

Felix Salmon, author of Capital
4 hours ago - Economy & Business

Americans are still spending money

Source: Census Bureau; Chart: Axios Visuals

Americans spent more money at stores and restaurants in 2020 than they did in 2019 — even in the face of a devastating global pandemic that shut down broad sectors of the economy.

Why it matters: The monthly retail sales report this morning came in well below expectations, and showed consumer spending falling on a seasonally-adjusted basis. Total expenditures were still higher in December 2020 than they were a year previously, however.

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