cross-posted from: https://hexbear.net/post/2904990
The Chinese government has introduced a slew of new measures designed to tighten its grip on lucrative natural resources used in everything from electric cars to wind turbines. In a list released by the country’s State Council on Saturday, Beijing declared that rare earth metals are the property of the state and warned “no organization or person may encroach on or destroy rare-earth resources.” From Oct. 1, when the rules come into force, the government will operate a rare earth traceability database to ensure it can control the extraction, use and export of the metals. China currently produces around 60 percent of the world’s rare earth metals, and is the origin of around 90 percent of refined rare earths on the market. Advertisement
Beijing has already prohibited exports of rare earth refining and magnet manufacturing technologies. In January, it banned the export of gallium and germanium, both highly sought after by the computer-chip industry. Fears that China is looking to exert control over the industry, and could disrupt critical technology, automotive and renewable energy supply chains, have sparked a race to shore up supplies from alternative suppliers. Both the U.S. and the EU have launched efforts to procure rare earths at home and abroad, including in Vietnam, Brazil and Australia. A year ago, European Commission President Ursula von der Leyen announced construction of the first large-scale rare earth refinery outside of Asia, located in Estonia. She said the move would “bolster European resilience and security of supply.”
A 2022 analysis from the European Parliament warned that over-reliance on monopolistic suppliers was a major risk for Europe. “The EU imports 93 percent of its magnesium from China, 98 percent of its borate from Turkey, and 85 percent of its niobium from Brazil. Russia produces 40 percent of the world’s palladium,” it said. “The latter is a reminder of the strategic implications of the Russian invasion of Ukraine, and the need for the EU to prepare for an increasingly uncertain world.”
The EU has launched a probe into anti-competitive trading allegations against the Chinese electric vehicle market, which benefits from heavy government subsidies and preferential access to essential rare earth metals. Earlier this month, the two sides agreed they would host consultations in order to try and resolve the standoff.
That last paragraph really is so damning. It is admitting the superiority of China’s central planning and how it is being used to actually improve society. ”But at what cost?”
Well, apparently the cost is that shares of China’s largest rare earth mineral mining firm have gone up 5% since the announcement. China proving socialists right every single day and absolutely crushing the capitalist development speedrun challenge. It’s genuinely hilarious that the development plan of China runs basically like what I’ll describe below, and capitalist nations are just completely incapable of stopping it from happening because the power of capital is greater than the power of their states.
“hmmm yes, today I will invest in the Chinese rare earth mineral market. Since China controls 90% of global production and all of the infrastructure is in place, all I have to do is bring my money, tech, and expertise with me and I’ll carve myself some serious profit! Easy money!”
“Ahh yes thank you for the help developing our mining industry/technology Mr. Foreign Capital. We appreciate your business and you had a great run, but unfortunately for you we have nationalized your mineral resources. The extractive capitalism will now stop. Feel free to reinvest elsewhere or compete with us on the global market tho :)”
”China is nationalizing its rare earth minerals, but at what cost? We need to ban China from–“
”Wait omg is that another investment opportunity in China where I can bring in my capital/technology/expertise to make some money? Hell yeah, where do I sign?”
Rinse and repeat
Uh, China doesn’t forgive the loans, they seize the assets, that’s the whole point of debt colonialism. They can’t colonize by force and no one trusts them to host their military bases, so they use debt to build a port or whatever and then when the host country can’t keep up on exhorbitant payments they take the port and ta-da, they’ve expanded their geopolitical reach.
China is in a hyper-imperialist push right now.
so they use debt to build a port or whatever
Edit:
Uh, China doesn’t forgive the loans, they seize the assets, that’s the whole point of debt colonialism.
Show me these supposed seizures; you’re talking out your ass. Imperial core corporate media are projecting their own states’ neocolonialism onto China, and you’re accepting their propaganda like a good Council on Foreign Relations consumer.
China has forgiven billions in loans
Also literally read Lenin’s definition of imperialism before you start saying bullshit like “taking over assets in another country is imperialism”
Yes, Lenin also prescribed dictatorship. His mindset was inextricable from the imperialist context he lived in, it limited his ability to imagine further. Which is part if why communism has always failed or collapsed into a fascist state capitalism (like China).
dictatorship
Are you referring to “dictatorship of the proletariat”? Because if you read what he wrote, it means “democracy where the former oppressor class is temporarily politically disenfranchised”
It feels like you’re playing telephone with yourself while trying to get zingers in
Which is part if why communism has always failed or collapsed into a fascist state capitalism (like China).
China has better life expectancy than the US when it was a feudal state occupied by Japan 80 years ago, what is your metric for failure lol? China is also leading the renewable push, and has made massive innovations in participatory democracy.
MODHAT calling communist nations fascist serves to enable holocaust trivialization, doing this again will net you a ban.
