Chinese firm hit with U.S. sanctions for selling missile items to Iran

The Bush administration has imposed stiff economic sanctions on one of China's largest state-run manufacturers for selling missile-related goods to Iran.
The two-year sanctions will, for the first time, bar any exports to the United States from a Chinese firm, in this case North China Industries Corp., known as Norinco, which manufactures an array of military and civilian products.
Bush administration officials said conservative official estimates are that the sanctions will cost Beijing "hundreds of millions" of dollars annually in lost sales in the United States.

www.washtimes.com...

Pure politicking, dragon-R: it'll have no effect on Norinco; it may make cheap toys a little more expensive in the US.
I guess it keeps up some soft of focus on Iran and China for the drivelling herd.
The key Sino-Yankee issue, and it is big in Chinese business circles - is the continued descent of the dollar down the toilet. ( come to think of it, it's an Estragon concern, too as he's paid in dollars) which is driving the yuan up. This will of course make imports from the US cheaper, but it may make China's exports less attractive.
China's surplus is so large ( even with SARS) that $100 million -quoted here -is nothing. Just as it's nothing to America's vast deficit.