Crank up mining royalties on Iron ore, page-190

China is a command economy commanded by the CCP whose primary objective is to stay in power, not necessarily to cut a profit in the short term
and Xi is there for life; not 3, 4, 6 or 8 years.

If the USA is successful in wrecking the Chinese and debunking the CCP & its leadership then the top end of the CCP will either be banished from China or rot in jail. This is why the CCP will do whatever it take to stay in control of China even if that means a nuke war so capitalist profit/loss is
not high on their agenda, IMO.

China is currently buying US Ag products at a higher price that those from Aus to appease US aggression; not to make/save money.