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The US has hit China where it hurts by going after its telecom champion Huawei, but Beijing's control of the global supply of rare earths used in smartphones and electric cars gives it a powerful weapon in their escalating tech war.
A seemingly routine visit by President Xi Jinping to a Chinese rare earths company this week is being widely read as an obvious threat that Beijing is standing ready for action.
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However, analysts say China appears apprehensive to target the minerals just yet, possibly fearful of shooting itself in the foot by hastening a global search for alternative supplies of the commodities.
Better buy your new devices now...
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Fears Rise China Could Weaponise Rare Earths In US Tech War
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If bankers can count, how come they have eight windows and only four tellers?
(Score: 0) by Anonymous Coward on Thursday May 23 2019, @07:15PM (1 child)
The only wealth being drained out of the US is that of the 99% by the 1% who will suck this shell dry before moving on to its next host, like any other parasite.
(Score: 2) by Runaway1956 on Friday May 24 2019, @01:17AM
If you genuinely believe that, you really need to start looking at the world.
#1, the drug cartels have been leeching money out of the US for as long as I've been alive.
#2, the illegal alien traffic leeches money out of the economy
#3, the various trade deals are leeching money away
All of that money leaves the US, and the US economy, and very little of it comes back into the US. Your 1%'ers do the same thing, yes, but you can't dismiss the other money sinks either.