China’s move has also raised concerns on whether restrictions on rare earth exports could follow, they said, pointing to how it curbed shipments 12 years ago in a dispute with Japan. China is the world’s biggest producer of rare earths, a group of metals used in EVs and military equipment.
and
On Wednesday, former vice-commerce minister Wei Jianguo told the China Daily newspaper that countries should brace for more should they continue to pressure China, describing the controls as a “well-thought-out heavy punch” and “just a start”.
“If restrictions targeting China’s high-technology sector continue then countermeasures will escalate,” added Mr Wei, who served as vice-commerce minister in 2003-2008 and is now the vice-chairman of state-backed think-tank China Centre for International Economic Exchanges.
The gloves seem to be coming off now. The Chinese government is making it clear to the USA and its allies that unless they back-off with their technology restrictions, China will retaliate with export restrictions on Rare Earths and other Critical Minerals. It will be very interesting to see how this plays out over the coming weeks and months.
GRL Price at posting:
5.4¢ Sentiment: Hold Disclosure: Held
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