US Accused Of ‘Trade Terrorism’
Chinese President, Xi Jinping, took shots at the US in a blanket statement that called provoking trade disputes ‘naked economic terrorism’…And he may not be far off.
In the latest escalation in the trade war saga, China has been throwing a barrage of accusations at the US, ranging from economic chauvinism to bullying and terrorism. Now now, President Xi, name-calling never solved anything.
Such overt criticism of the US is a very clear indication that the trade war is far from over and may even be degenerating faster than was initially indicated. These effects are being felt the world over as stocks dip lower and safe havens surge, with investors battening down the hatches to prepare for the worst.
China’s latest ploy has been to hint at the use of one of its many economic negotiation tools, known as ‘rare earths’. These are 17 rare minerals crucial to US production which China has an undisputed monopoly over – roughly 80% of global production. They are used across a number of vital US industries, including renewable energy tech, electronics, oil refineries, and even the glass industry. Ouch!
While China has yet to pull the trigger on its exports to the US, it seems that the option is very much on the table. For now, however, what we know for sure is that the trade war is far from over and may continue to wreak havoc on markets.
Buckle up, Invstrs, the bumpy road may be about to get bumpier.
Avengers Crushes Box-Office Records