America has made diplomacy a joke. While on one hand Trump resorts to bullying any country to get his point across, on the other hand Trump’s minister has done something amazing. US Finance Minister Scott Besant’s tone has suddenly changed. Scott, who attacked India as soon as he opened his mouth, now needs help and has made a complete plan to target the ‘enemy’ with India by saying ‘friend-friend’. This time her ‘targeted enemy’ is China, whom Besant has accused of using ‘bazooka’.
Forgot Tariff Bazooka?
Used to spew venom on India, now asking for help
Besant had earlier advocated increasing tariffs on India, angry over the purchase of crude oil from Russia. Besant, who himself used tariffs as a weapon, is now accusing China, ‘This country is standing like a ‘bazooka’ on the entire world’s supply chain and industrial base and is threatening to have complete control over those products in which even the slightest amount of Chinese rare earth minerals will be used’. China has control over these minerals and this is a serious problem.
Importance of Rare Earth Minerals?
Let us tell you that rare earth minerals are used in all types of electronics, auto parts, AI chips and chip making equipment, medical devices, drones, Tomahawk missiles. China controls about 70% of rare-earth mining and more than 90% of refining. Beijing is now planning to allow foreign companies to export these high-tech materials.
Can’t face China’s bazooka alone
Besant says that the Chinese Communist Party is forcing other countries not to cooperate with US export controls. Besant assumed that all allies were ready to support her and said that we will give a collective response to this, because China’s bureaucrats cannot manage the supply chain or manufacturing process for the rest of the world. He further said that ‘we will dialogue with our European allies, Australia, Canada, India and Asian democracies’.
A united front will give America the economic strength to counter China. The Trump administration has sought the expertise and assistance of South Korean shipbuilders. Apart from this, business partnerships can also be developed for the alternative of rare earth minerals, whose partners can be India, Malaysia and Australia.