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DoomYoshi wrote:Trivia Time: What's the only place worse than North Korea?
"China is seriously considering restricting rare earth exports to the US," tweeted the editor of Chinese state-run Global Times this week.
Around 80% of the rare earths imported by the United States comes from China, according to US government data.
Estonia, France and Japan also supply processed rare earths to the US, but the original ore comes from China.
The one rare earth mine operating in the United States sends its ore to China for processing - and already faces a 25% import tariff imposed by China.
The restriction of exports to the United States, if enforced, could have a major impact on major US industries worth trillions of dollars that rely on rare earth minerals.
mrswdk wrote:America likes to punish ordinary Iranian and North Korean people with economic sanctions, and attack Chinese and European companies out of naked protectionism. How will the bully feel when it gets a taste of its own medicine?
GoranZ wrote:Can US defense industry survive the Chinese "nuclear" response? China could use rare earth metals embargo to land killer blow on US defense industry
HitRed wrote:Texas is building the first Rare Earth Metal refinery outside China.
I would also like to state that most Rare Earths aren't rare. Just not found in mine-able quantities.
waauw wrote:GoranZ wrote:Can US defense industry survive the Chinese "nuclear" response? China could use rare earth metals embargo to land killer blow on US defense industry
They probably can. It's likely the reason they restarted their own little bit of rare earth mining. The ones who would struggle is their private sector. This being said, China is playing an equally dangerous game as the USA right now. Google basically screwed the future of the Android OS in China, but China threatening to cut the US off of rare earths could hold the same effect. The whole world could start reopening their rare earth mines, thereby weakening China's influence globally.
waauw wrote:Both sides need to come back to the table and stop escalating. The global economy is going to plunge into recession.
GoranZ wrote:waauw wrote:GoranZ wrote:Can US defense industry survive the Chinese "nuclear" response? China could use rare earth metals embargo to land killer blow on US defense industry
They probably can. It's likely the reason they restarted their own little bit of rare earth mining. The ones who would struggle is their private sector. This being said, China is playing an equally dangerous game as the USA right now. Google basically screwed the future of the Android OS in China, but China threatening to cut the US off of rare earths could hold the same effect. The whole world could start reopening their rare earth mines, thereby weakening China's influence globally.
I can not agree that the whole world can restart their mines for extraction of rare earth metals. The issue is that although there are location outside of China they are very expensive for mining. At the moment China has monopoly over mining of rare earth metals because they are mining for the whole world.
So US can restart their mines but at what price will they mine them? Math is still on Chinese side
GoranZ wrote:waauw wrote:Both sides need to come back to the table and stop escalating. The global economy is going to plunge into recession.
I dont think this will happen. US sanctions towards China, EU, Mexico, Russia and good part of the world are marking the end of globalization as we know it. The same globalization that rebuilded the world after WWII.
But if the world goes into recession US wont come out on top. China might tho. And the Russians are preparing for the next global recession for some time... Clever Putin
Bernie Sanders wrote:Trade war will hurt everyone, but China will suffer the worst with sky high unemployment. This will result in unrest and a possible regime change.
Bernie Sanders wrote:Trade war will hurt everyone, but China will suffer the worst with sky high unemployment. This will result in unrest and a possible regime change.
jimboston wrote:I do however feel confident that neither political system is very stable relative to our own.
GoranZ wrote:Will he dare?
Trump Threatens China With New Tariffs Worth $300 Billion
I think he is bluffing
Dukasaur wrote: That was the night I broke into St. Mike's Cathedral and shat on the Archibishop's desk
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