Beijing: The Chinese regime has initiated moves to jolt the United States, which has delivered shocks to China one after another. Chinese President Xi Jinping visited the rare earth minerals production facility in China. Jinping’s visit is said to be an indication of China stopping the supply of rare earth minerals to the United States.
China is known to be the largest producer of the minerals required in the manufacture of smartphones, computers and electric cars. The country has nearly 30% of the reserves of the 17 minerals falling under the rare earth category. However, China currently has a share of 95% in the rare earth minerals being produced in the world. Furthermore, 80% of the minerals required by the United States are imported from China.
During the visit to the rare earth mineral production facility, Jinping stated that the minerals were crucial for the progress in the technology sector and held strategic importance. Previously, China had forced the Japanese leadership to give in to the mainland by stopping the supply of rare earth minerals. The Chinese political circles have indicated that the country may adopt the same policy against the United States.
Some analysts are claiming that apart from the rare earth minerals, China may target the leading US companies such as Apple as also the US stock markets.