3 ms·
China has also suspended purchasing of BHP iron ore as a negotiating tactic to lower prices. They banned Australian barley, wine and coal when the previous gov
by Khaine 1y ago
China has also suspended purchasing of BHP iron ore as a negotiating tactic to lower prices. They banned Australian barley, wine and coal when the previous government upset them.
Honestly, everyone should put tarrifs on china. Bringing them into the WTO was the biggest mistake made. People thought it would drive them to democracy. Instead the opposite has happened. The sooner, Chinese companies are forced to compete fairly the better. When western countries can sell cars in China as easy as BYD can ship shit boxes to the west, the better. Until then, fuck them.
Raise tariffs, restrict trade, disincentivise investment in China. Build out manufacturing capabilities in western countries
- someNameIG 1y agoOne of the speculations I've seen going around about the iron ore thing is that China wants to buy it off us (Australia) in RMB, not USD.
- rchaud 1y ago> People thought it would drive them to democracy That's the White House's cover story, not the actual reason. China is in the WTO because the Fortune 500 needed a stable tariff regime to streamline production offshoring to a country with weak labor and environmental protections, but without the political instability of actual democracies.
- jambutters 1y agoNot unique to China. Japan also withheld critical semiconductor materials from Korea due to Korea not backing down on historical disputes in 2019 https://www.cnbc.com/2019/07/23/japan-south-korea-dispute-impact-on-semiconductor-supply-chain-prices.html https://www.cnbc.com/2019/07/23/japan-south-korea-dispute-im...