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EU Faces Dire Threat from China’s Grip on Raw Materials
The European Union is spiraling into a deep and concerning crisis as the specter of a supply halt of critical raw materials from China looms ever closer. Following reports of a burgeoning friendship between the American mogul Donald Trump and the authoritarian ruler Xi Jinping, the EU is left fearing that they’ll be completely sidelined. While the Commission pretends to be hopeful, awaiting the outcome of so-called “high-level technical negotiations,” the reality is that Europe is teetering on the edge of vulnerability.
In a world bent on domination, the EU’s dependence on China for essential materials exposes us to a perilous new era. As the Commission scrambles to devise a plan — one that includes strategies like joint purchases and mandatory reserves of these vital resources — the clock is ticking.
“We are willing to use all the instruments at our disposal to respond if necessary,” declared the European Commission President, Ursula von der Leyen.
Rising Concerns Among Leaders
The President of the European Council, António Costa, voiced his discontent while participating in the ASEAN summit, thrusting Europe’s anxiety about the tightening noose of China’s export controls on raw materials right into the Chinese Prime Minister Li Qiang’s face. The audacity! Li’s suggestion that they expand trade cooperation, while conveniently ignoring barriers erected to safeguard European manufacturers, showcases a blatant disregard for fair play.
von der Leyen has likened this situation to the blackmail once thrust upon Europe by Vladimir Putin’s Russia regarding energy supplies. “If we consider that more than 90% of our consumption of rare earth magnets comes from imports from China, we see the risks that this poses for Europe,” she stressed, illuminating the stark reality: Europe’s critical industrial sectors are now hostages to China’s whims. The automotive industry, defense sectors, and the burgeoning fields of artificial intelligence are all at stake!
Brussels Ramps Up A Plan B
The Commission, while hesitant to act, possesses a formidable weapon in its arsenal: the anti-coercion instrument, regarded as the “atomic bomb” of international trade. As they contemplate measures like tariffs or restrictions on aspects of trade, the countdown to asserting Europe’s strength begins. This strategy could change the game entirely!
Moreover, the new ‘ReSourceEU’ initiative aims to replicate the successful ‘RePowerEU’ plan enacted in May 2022 to address energy crises. The goal? To guarantee access to alternative sources of critical raw materials. Initiatives will also push for a robust circular economy — the time to recycle and repurpose is now!
In a show of solidarity, the EU will also bolster partnerships with countries like Ukraine, Australia, and Canada, strategically aligning to diminish reliance on China. This is a clarion call to action: the time has come for Europe to stand strong against the tides of external manipulation.
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