BEIJING :China, the world's top processor of rare earths, banned the export of technology to extract and separate the critical materials on Thursday, the country's latest step to protect its dominance over several strategic metals.Rare earths are a group of 17 metals used to make magnets that turn power into
Yeah stop using them to manufacture goods sold in the West, see how well they fare…
Uhh then they have more resources? And we have less affordable goods.
The modern Chinese economy is very dependent on trade with the West and other East Asian nations that are generally more favorable of the west.
Those resources aren’t shit if they can’t make them into shit others will buy.
That’s not really true. Much of China’s economic growth in recent years has been driven by internal demand and not foreign investment.
Yes congrats on proving that economics really is a zero-sum game and every econ professor has been wrong this whole time.
But we’ll have salaries. Currently we are paying them to manufacture goods sold here. That we buy with what? Delocalization was a mistake. If we don’t pay our workers for production they don’t have the money to afford the goods we sell here. In the long run the system will collapse for lack of demand.
Please do it. I really want to see the west try.
Oh at some point we’ll have to do it cos if we don’t pay our workers to manufacture stuff they won’t have the money to buy the items we produce. Delocalization doesn’t work.