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Trade War Erupts Between U.S. and China?

Sherry Mowery, My Cowboy suffers no longer... 2010/10/19 23:08:04
Related Topics: Earth, Chinese




HONG KONG —
China, which has been blocking shipments of crucial minerals to Japan for the last month, has now quietly halted shipments of some of those same materials to the United States and Europe, three industry officials said on Tuesday.

The Chinese action, involving rare earth minerals that are crucial to manufacturing many advanced products, seems certain to further ratchet up already rising trade and currency tensions with the West. Until recently, China typically sought quick and quiet accommodations on trade issues. But the interruption in rare earth supplies is the latest sign from Beijing that Chinese officials are willing to use their growing economic muscle.

“The embargo is expanding” beyond Japan, said one of the three rare earth industry officials, all of whom insisted on anonymity for fear of business retaliation by Chinese authorities. They said Chinese customs officials imposed the broader shipment restrictions Monday morning, hours after a top Chinese official had summoned international news media Sunday night to denounceUnited States trade actions.

China mines 95 percent of the world’s rare earth elements, which have broad commercial and military applications, and are vital to the manufacture of diverse products including large wind turbines and guided missiles. Any curtailment of Chinese supplies of rare earths is likely to be greeted with alarm in Western capitals, particularly because Western companies are believed to keep much smaller stockpiles of rare earths than Japanese companies do.

China’s commerce ministry has repeatedly denied that it has imposed an embargo on shipments to Japan, even though Japanese ministers and industry executives say the shipments to their country have been systematically blocked by Chinese customs officials since Sept. 21.



Maybe I'm missing something here but from where I sit, this is a good thing. The more China sells, the more money they make. The more money they make, the more they try to challenge America and its values like a ship killer missile system they've just invented or luring our scientists out of this country into China. In addition, China uses slave labor. I'd gladly pay more for products if slaves weren't making them and American's were. And finally, I don't know about the rest of you, but having my household goods tainted with poisons and lead is something I can do without. I've been waiting for years for this and I just hope that it's true.


Read More: http://www.nytimes.com/2010/10/20/business/global/...

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Opinions

  • SirWence 2010/11/12 20:49:08
    SirWence
    It's about time, The Exporters (The PRC in this case) are the greatest losers in a trade war.. I say bring out the nuclear option, slam the PRC with trade sanctions. For a time things will seem worse in the USA, but as is said the exporter always loses the trade war. So the USA only stands to long term gain.
  • kmay 2010/11/09 21:58:11
    kmay
    +1
    Trade War with China is what we need to get out of our economic mess! A.S.A.P.
  • Sherry ... kmay 2010/11/10 03:16:23
    Sherry Mowery, My Cowboy suffers no longer...
    +1
    I agree.
  • A Carpenter 2010/10/20 00:43:34
    A Carpenter
    +1
    the only proper response is to gear up American ingenuity and start mining for ourselves again. we just have to put the damper on 'greeners' who think a wild hare might be offended.
    and yeah, take back the government from the elite SOBs currently in office.
  • Sherry ... A Carpe... 2010/10/20 02:05:45
    Sherry Mowery, My Cowboy suffers no longer...
    +1
    Amen You are so right!

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