By Wu Yuehe, People’s Daily
China does not want a trade war, but it is not afraid of one and will fight one if necessary. The Chinese government has always adhered to this principle faced with the US initiated trade frictions against China. As Washington announced rounds of additional tariffs on Chinese goods, China was forced to take countermeasures.
It is obvious to all that Washington has adopted increasingly attacking tactics against China by not only raising tariffs on Chinese products, but also sabotaging the global supply chain and blocking the supply chain of technologies and products which threatens the survival of Chinese enterprises. Such hegemonic behavior has astonished the world.
Some decision-makers in the US are selfish and arrogant. They made attempts to control the global supply chain for their own interests, imagining that they, who are “great and superior”, can control everything.
However, anyone who has learnt Newton’s law of motion knows that for every action, there is an equal and opposite reaction.
As some American politicians continue threatening to exert extreme pressure against China, people are increasingly concerned about what trump cards China holds against such suppression.
Many foreign media outlets have turned their eyes to rare earths. Some analysts believe that China’s dominant position in the rare earth market has given Beijing a way to strike back.
China is the world’s largest producer of rare earths and the largest supplier of rare-earth materials which are in huge demand by many developed countries.
Strengthening the exploitation and utilization of rare-earth resources is of positive significance to the economic development of China and the world. China has always adhered to the principle of openness, synergy and sharing to promote the development of the rare earth industry.
The country sticks to the principle that rare-earth resources should serve domestic needs first. On the other hand, the country is also willing to meet the legitimate needs of countries around the world for rare-earth resources. China is pleased to see that its rare-earth resources and products can be widely used in manufacturing various advanced products to better meet the needs of people around the world for a better life.
Will rare earths become a counter weapon for China to hit back against the pressure the United States has put on for no reason at all? The answer is no mystery.. In today’s world where different industrial labors are divided globally, no development and progress can be achieved without cooperation.
Known as the “vitamin” of the modern industry, rare-earth elements are widely used in modern industries such as metallurgy, petrochemicals, opticals, laser, hydrogen storage, display panels, and magnetic materials.
With the continuous progress the world’s scientific and technological revolution and industrial transformation, the strategic value and significance of rare-earth elements will be more prominent.
In the global market, the consumption of new rare-earth materials is growing rapidly. The growth of many industries, such as military and civilian industries, is inseparable from rare-earth resources. The demand for rare-earth oxides by US companies is particularly strong.
At present, some people in the US are indeed fantasizing about “resource self-reliance”, but the strong dependence of the US on the global supply chain is an indisputable reality.
The American business community from the rare earth industry expressed the concern that they are far behind, and haven’t made any progress. According to data from international market research institutions, the United States is a main buyer of rare earths in China. In fact, consumer electronics, military equipment and many other products produced in the US are highly dependent on China’s rare-earth resources.
Undoubtedly, the U.S. side wants to use the products made by China’s exported rare earths to counter and suppress China’s development. The Chinese people will never accept this!
Washington has completely overestimated its ability to manipulate the global supply chain and lacks self-knowledge. The US is doomed to be met with a slap in the face after it wakes up and stops dreaming.
Relevant Chinese departments have issued solemn statements that the industrial chains between China and the United States are highly integrated and highly complementary.
Cooperation leads to win-win results while confrontation leads to lose-lose situations. There is no winner in the trade war. We advise the U.S. side not to underestimate the Chinese side’s ability to safeguard its development rights and interests. Don’t say we didn’t warn you!
The virtuous are free from anxieties, the wise are free from doubts and the bold are free from fear. Only by working together to expand the common interests of all countries can we embrace lasting prosperity and a win-win future.
