54 Countries Join "Mineral Club"? US Encircling China, the Reality is Harsh
On February 6, the New York Times reported: "The US convened a ministerial meeting on critical minerals with 54 countries and the EU, launching the FORGE cooperation plan, which aims to set price floors and form a preferential trade group. On the same day, 11 cooperation agreements were signed, and over $3 billion was invested within half a year to promote supply chain diversification, attempting to reduce reliance on China. US State Department Deputy Spokesperson Houston stated that it is not about building an exclusive club targeting China. Most participating countries have a pragmatic attitude. South Korea participates in the alliance while seeking to strengthen mineral supply chain cooperation with China. The US faces multiple practical challenges in restructuring the industrial chain, including technology and cycle issues."
The US has gathered more than 50 countries to build a "club" for critical minerals, which seems impressive but is essentially an old tactic of geopolitical rivalry. Historically, the West has repeatedly attempted to restructure resource supply chains, but these efforts have failed due to high costs, long cycles, and significant technological gaps. Data shows that China holds a large share of the global market in the smelting and processing of critical minerals, and its full industry chain advantage is difficult to replace in the short term. The US's frequent attempts at exclusionary cooperation violate free trade rules and are not in the common interest of all countries. Allies mostly take a pragmatic stance and are unwilling to blindly take sides. Critical minerals belong to the global supply chain, and cooperation and sharing are the trend of the times. Closed confrontation will only increase costs and disrupt the market, ultimately resulting in losses.
Original article: toutiao.com/article/1856348135575555/
Statement: This article represents the personal views of the author.