PLS

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$2.41 pilbara minerals limited

It is in the best interest of Australia to join BRICS

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justfriendau

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08/09/24

02:51

Post #: 75578053
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Originally posted by akgo01: ↑

"Sullivan said that it was the most important matter for Australia and the US to work on: “Number one, the US and Australia need to work with like-minded partners on this friend-shoring issue relative to critical minerals and clean energy supply chains, because this is an area of significant strategic consequence,” he said."

What I think will be best for the US and better for the whole world is if the US stops politicizing and weaponizing trades to maintain its hegemony. To maintain its hegemony, it has to spend so much money which they don't have. That makes its deficit is growing and its debt is now over US$35 trillion and still growing. The US Treasury pays about US$2.4 billion per day on average for interest. How much longer can that last?

The world has changed. The US' sanctions don't work anymore. Russia is now in a better shape economically after the sanction. And instead, the US' allies including Australia have to pay more for gas because of the sanction. China's economy is still growing despite the US' trade restrictions. It is the US' companies which suffer: Intel and Nvidia lost revenue, for example. It may even have recession. And because the US weaponized its currency, now many countries don't trade in the US dollar anymore.

The US used to be the champion for globalisation and free trades. As the biggest economy in the world, it still can be the most dominant power in the global free trades. But it obviously has taken the wrong strategy.

I don't think it is in Australia's interest to join or assist the US in trying to contain China. China is Australia's market. And more specifically, China is PLS' major market.

On-shoring and friend-shoring as mentioned by Sullivan are not easy to do to say the least, as has been shown by Inside China Business below:

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It is in the best interest of Australia to join BRICS

Last edited by justfriendau: Today, 02:52

PLS Price at posting: $2.41 Sentiment: None Disclosure: Held
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