The Chinese Communist Party (CCP) is launching a rare earth metal company as it seeks to extend China’s global dominance in mining.
The CCP has approved the creation of the “China Rare Earth Group” that will oversee the nation’s processing of key resources.
The government corporation could launch by the end of the year, according to an exclusive report from The Wall Street Journal.
“The new entity would be created by merging rare-earths assets from some state firms, including China Minmetals Corp., Aluminum Corp. of China Ltd. and Ganzhou Rare Earth Group Co.,” the report states.
“The combined group is designed to further strengthen Beijing’s pricing power and avoid infighting among Chinese firms, and to use that clout to undercut Western efforts to dominate critical technologies…
“Estimates of China’s dominance of the rare-earth industry vary. Some analysts say China mines more than 70% of the world’s rare earths and is responsible for 90% of the complex process of turning them into magnets, analysts say.
“A White House report has estimated that China controls 55% of the world’s rare-earth mining and 85% of the refining process.“
The new conglomerate will be located in the resource-rich Jiangxi province in southern China — poising the nation to enhance its capabilities in smartphone, automobile, and defense production.
Indeed, the People’s Liberation Army is making rapid advances — indicated by the recent firing of a sophisticated, nuclear-capable hypersonic missile that circumnavigated the globe before hitting a target in China.
“They’re expanding rapidly — in space, in cyber, and then in the traditional domains of land, sea, and air,” explained Chairman of the Joint Chiefs of Staff Mark Milley.
“And they have gone from a peasant-based infantry army that was very, very large in 1979 to a very capable military that covers all the domains and has global ambitions. …
“As we go forward — over the next 10, 20, 25 years — there’s no question in my mind that the biggest geostrategic challenge to the United States is gonna be China.
“They’ve developed a military that’s really significant.”
Other reports suggest that none other than the Biden family has benefited from China’s rise to power.
New York Post columnist Miranda Devine revealed in her forthcoming book, Laptop from Hell, details about Joe and Hunter Biden’s murky business deals across the planet.
Hunter Biden arranged multiple business deals with close allies of Chinese President Xi Jinping, squeezing $6 million out of the relationship before things went sour.
Hunter reportedly opened a business partnership with the China Energy Fund Committee — a key mechanism of the Chinese Communist Party’s Belt and Road Initiative, which spreads Chinese economic influence among developing countries.
Devine’s book says that Hunter and his partners used their connection to 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 looks like it’s going to eat our lunch.