According to an exclusive report by The Wall Street Journal, the Chinese Communist Party approved the creation of the “China Rare Earth Group” – which could be launched by the end of the year:
The new entity would be created by merging the rare earth assets of certain state-owned enterprises, including China Minmetals Corp., Aluminum Corp. of China Ltd. and Ganzhou Rare Earth Group Co. The combined group is designed to further strengthen Beijing’s pricing power and avoid internal feuds between Chinese companies, and to use this influence to undermine Western efforts to dominate critical technologies …
Estimates of China’s dominance over the rare earth industry vary. Some analysts claim that China exploits more than 70% of the world’s rare earths and is responsible for 90% of the complex process of their transformation into magnets, analysts say. A White House report estimated that China controls 55% of the world’s rare earth extraction and 85% of the refining process.
The new conglomerate will be located in the resource-rich province of Jiangxi in southern China, which will allow the country to improve its capabilities in the production of smartphones, automobiles and defense.
Indeed, the People’s Liberation Army is making rapid progress, as evidenced by the recent cooking a sophisticated nuclear-capable hypersonic missile that circled the world before hitting a target in China.
“They are developing rapidly – in space, in cyberspace, then in the traditional realms of land, sea and air,” said Joint Chiefs of Staff Chairman Mark Milley. “And they’ve gone from a peasant infantry army that was very, very large in 1979 to a very capable army that covers all areas and has global ambitions. … As we move forward – over the next 10, 20, 25 years – there is no doubt in my mind that the greatest geostrategic challenge for the United States will be China. They have developed an army which is really important.
Other reports suggest that none other than the Biden family has benefited from China’s rise to power. New York Post columnist Miranda Devine allowed Daily Wire’s Ben Johnson to examiner his next book, Laptop from hell, which details revelations about Joe and Hunter Biden’s murky affairs across the globe.
“Hunter Biden made several trade deals with close allies of Chinese President Xi Jinping, pulling $ 6 million out of the relationship before things turned sour,” Johnson writes.
Hunter is said to have opened a business partnership with the China Energy Fund Committee – a key mechanism of the Chinese Communist Party’s Belt and Road initiative, which extends Chinese economic influence among developing countries. Devine’s book says that Hunter and his partners used their bond with Joe Biden to “open doors for CEFC around the world, in Kazakhstan, Georgia, Oman, Ukraine, Romania and beyond.”
“In other words, Hunter and his family benefit financially when China seems to want to eat our lunch,” Johnson notes.
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