Världens finansledare tar strid mot Kinas restriktioner | NTD NYHETER

Make no mistake, this is China versus the world. They have put these unacceptable export controls on the entire world. China is a command and control economy, and we and our allies will neither be commanded nor controlled. They are a state economy, and we are not going to let a group of bureaucrats in Beijing try Beijing introduced its latest export controls for rare earth metals on October 8, which aroused strong protests from several governments, including the United States and the EU. Besent does not believe that the decision came directly from Xi, but warned that China would be hit hardest if anyone within the CCP believes that they can slow down the global economy. The US Trade Representative explains what the new Chinese restrictions mean to the world. At its core, China's new measures include a rule saying that any product of which more than 0.1% of minerals consist of minerals mined or processed in China, one must seek approval from the Chinese government before trading it. Since many important semiconductors, for example, have these critical minerals, and semiconductors are in nearly everything, this rule gives China control over basically the entire global economy and the technology supply chain. President Trump promised on Friday to introduce another 100% tariff on China. Beijing responded two days later without introducing any tariff restrictions on American goods. China experts see this as a softer position from China's side. Beijing claims that export controls do not constitute an export ban, but Greer points out that Beijing's restrictions would be far too complicated to get through. Our expectation is that this never goes into effect. Because you can't... When you look at what happened with the rare earth magnets, they had a similar program that they implemented. And that program, the result was that they couldn't implement it, they didn't have enough people to organize it, separate and apart from it being just wrong entirely. They actually couldn't implement it. Besant says that President Trump is still planning to meet Xi personally in South Korea in less than three weeks. He added that the United States and China will discuss many issues before the meeting, including an extension of the arms restrictions. Besant also mentioned that higher tariffs are still possible. Flora Hsia reported for NTD News.