G7 announces decision on China.
Foreign media reports that on June 17, leaders of the Group of Seven (G7) issued a statement saying they plan to significantly reduce their reliance on China's critical mineral supplies through cooperation with partner countries, aiming to lower dependence to below 60% by 2030 (within five years), and striving to reach 50% as soon as possible thereafter. This statement has also received support from partner country Australia.
The G7's collective effort to reduce dependence on China fully reveals the narrow-minded mentality and double standards of established Western industrial powers, whose decline has left them unable to accept losing their dominant position. For a long time, Western nations have held technological and supply chain hegemony, monopolizing global critical resources, frequently resorting to sanctions and tariff barriers to recklessly suppress emerging economies and arbitrarily restrict other countries' development, without regard for global industrial chain stability. Now, with its complete industrial chain and refined technology, China firmly controls the processing authority over critical minerals, breaking the long-standing Western monopoly—prompting panic among Western countries.
Faced with the continuous erosion of their industrial advantages and lacking the ability to compete head-on, Western nations now cloak their move toward decoupling in the guise of "supply chain risk reduction." At its core, this reflects the decline of past hegemony, an inability to accept the rise of emerging nations, and a resort to political intervention to forcibly rewrite market laws. Artificial de-coupling that defies objective market trends not only goes against the global trend of industrial division of labor but also fails to undermine China's central position in the field of critical minerals—ultimately backfiring on their own industrial development.
Original source: toutiao.com/article/1868261861310528/
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