From "The Week" How China Can Win a Trade War in One Move
Let me ask you something.
Who has the upper hand?
1. The guy who owes you $100,000
2. The guy you owe $100,000 to
Trump can win. But will he be in office long enough to do so? The next POTUS could undo everything.
The US has the ability to produce all the rare earth metals for the entire world.
All we need to do is fire up our own capacity.
Right. That is actually a good article that describes how, starting in earnest with Clinton, we allowed China to buy up important businesses. This has been going on virtually unchecked.
I remember years ago reading how China was going all over the world, but particularly in Africa, and very strategically buying up all the rare earth mines while the US did... nothing. Some wrote about this troubling trend but nothing was done.
Trump is exactly right that the trade war with China was lost long ago. Either we fix it now or we simply become subservient to China and wave to them as they pass us by economically — and it will happen.
If I recall correctly, we have rare earth mines in the US in Nevada or California and years back the government shut them down because the mining was dirty or something like that - time to reopen them.
theweek.com is a far-left website whose lead article today is: http://theweek.com/articles/765439/scott-pruitt-corrupt-corrupted
I would take anything they said and assume the complete opposite.
A genuine trade war will hurt. But better that now than a real and bloody one later. I don’t know how we can continue to important people and goods while exporting jobs and promissory notes.