Rare earths: Don’t say I didn’t warn you; Overall leverage ratio rising; Worried HK judges
Beijing’s threats to limit rare earths-related exports to the US intensified overnight with a commentary in the People’s Daily that used the historically loaded term “don’t say I didn’t warn you. 勿谓言之不预也 (wu4 wei4 yan2 zhi1 bu4 yu4 ye3)”.
Threatening to cut off rare earth supplies makes those in DC worried about China believe that they are even more correct. I would love to be in the room when President Trump is briefed on the latest rare earths threat. Who knows, maybe we will get a tweet on it.
There is no walking back this threat, and even if not implemented the damage is done, just as it has already been done by the US in the technology arena with ZTE and now Huawei.
I have a correction from yesterday’s newsletter, from CSIS’ Bonnie Glaser:
The name of Taiwan’s de facto embassy in DC did NOT change. The name of the office in DC was changed from CCNAA to TECRO in 1994. CCNAA remained the name of TECRO’s sort-of parent organization in Taipei, which is analogous to the Washington office …