bullyxtreme Chapter 414 Rare Earth Demonstrates Its Divine Power for the First Time
Chapter 414 Rare Earth Demonstrates Its Divine Power for the First Time
After all, America's high-tech industry is heavily reliant on China's rare earth resources.
From electric vehicles to wind turbines to high-end engines, all these high-end manufacturing industries will come to a standstill.
China can live without Windows because they can use pirated versions, but America cannot live without China's rare earth elements!
Because this is a true monopoly.
As for independent manufacturing in the United States? While the technology in this industry isn't as difficult as top-tier technology, do you really expect us to invest in research and development and compete with China in technology?
Let's wait another 30 years!
Perhaps it can be approved for approval at that time!
Rare earth control is no longer a minor friction, but a real strategic counterattack, after all, it is an absolute hegemony that they have worked hard to establish for many years.
Shen Danyang concluded by saying something that was full of warning.
"China does not initiate trade disputes, but we are not afraid when others come to our doorstep."
If some people continue to suppress Chinese companies without reason, we will take all necessary measures to safeguard our legitimate rights and interests and resolutely protect the legitimate rights of Chinese companies.
After all, there's an old Chinese saying: "Once is enough, twice is too much, but never a third time..."
When the reporters forwarded their articles back to the United States, it was still 3 a.m. due to the time difference, but the Wall Street futures market had already begun to react.
Dow Jones futures plunged 3%, and Nasdaq futures plummeted 5.45%.
As a fruit that voluntarily removed itself from the market, its market value only fluctuated slightly, dropping by 0.03%, before quickly rebounding. Qualcomm did the same.
But Intel, Google, and Microsoft are different, with declines of 7%, 9%, and 7.5% respectively. These companies, which originally held a monopoly, have all been severely impacted.
The chain reaction was bigger than they imagined!
After all, this time it wasn't just soybeans, wheat, and corn; all the products that China used to import entirely were...
So the Wall Street traders, forgetting all about coffee, rushed out onto the street.
After all, that fool has repeatedly disregarded the safety of their agricultural state!
Don't their lives matter?
But these are minor issues for Wall Street; stock market declines are normal. What truly alarms them is the chain reaction caused by rare earths.
Rare earth elements are like vitamins for the high-tech industry.
After daybreak, protests will break out in major cities tomorrow, and this time the organization of the crowds will be more complex than before.
Even Wall Street has started to get involved.
After all, Microsoft has already received an inquiry letter demanding their cooperation with the investigation, or they will face hefty fines.
So some traders in suits held up makeshift signs that read: "Don't sacrifice the interests of American shareholders to suppress Chinese companies."
"We need to eat too. High technology has nothing to do with us, but we know that if we can't sell our soybeans, we won't be able to eat!"
Farmers are not cannon fodder.
"Take a look at our warehouse."
Some retail investors from Apple and Qualcomm also held up signs and shouted: "Apple and Qualcomm are friends of Transsion, please don't treat us as sworn enemies."
…………
This swift counterattack has caused pain to everyone.
For example, when Senator Chuck of Iowa gave a speech at an emergency meeting, his voice was filled with no restraint, only hatred for this foolish decision.
"As we have said before, agriculture is the foundation of America, and we must protect the interests of farmers."
Now soybean prices have plummeted below cost, corn warehouses are overflowing with unsold corn, and farmers are on the verge of bankruptcy.
All of this is because some people are targeting two high-tech companies that only have a small portion of their business in the United States.
The investigation revealed it to be a patent troll company. I want to know who was behind it, instructing them to use Qualcomm and Apple's names to file the complaint, and who initiated the investigation without verification?
"Those responsible must be held accountable!"
Representatives from other states were also there, offering their support, and the head of the International Trade Commission felt his legs go weak.
Although he did it for America, capital doesn't believe in tears; they only know that they've lost a lot of money.
Just when he thought he should only be removed from office, the representative from Texas added:
"Rare earth controls are more alarming than soybean investigations."
This is the lifeline of high-tech industry, and some people are playing with our safety.
If this continues and China truly bans the system entirely, then we will truly begin our path to destruction.
The chaos in the conference room had reached its peak. Obama's face was as black as hell, but since he was black, it wouldn't have made much difference if he had been any darker.
However, not everyone advocated surrendering at this emergency meeting.
For example, Trade Representative Lighthizer's stance remains hardline; he is a hawk among hawks and is unwilling to back down on any issue.
He believed that it was precisely because the United States had backed down in the previous instances that China's counterattack this time was so casual and confident.
"The Section 337 investigation must continue. We cannot back down because of their countermeasures."
Before the words had even finished, the Minister of Agriculture slammed his hand on the table and stood up, the coffee in his cup swirling slowly.
"Let me tell you, the farmers can't take it anymore."
Soybeans are piling up in warehouses, unsold; bank loans are due next month; and three agricultural cooperatives have already filed for bankruptcy.
After saying that, he looked at Obama: "If this continues, we'll lose all the votes from the agricultural states."
Obama sat at the head of the table, unable to move between these few pieces. He had once been a pacifist in China's affairs, in order to stabilize the economic crisis.
but now……
Without realizing it, he had become a hawk.
He withstood the pressure and persevered the previous times, although he eventually had to cancel in a sorry state, but at least he persisted for a while.
But this time, with the other side playing the rare earth card, he knew he couldn't hold out. But if he backed down too early, the hawks would accuse him of being weak, and public opinion would say he was scared off by China's countermeasures.
Both roads are pitfalls; the only difference is the depth of the pitfalls.
The meeting room was noisy!
In the end, he made a compromise decision, one that was consistent with his established persona:
"The Section 377 investigation will not be withdrawn, but the investigation process will be suspended indefinitely without any substantive ruling."
They publicly claimed the investigation was progressing actively, then proactively surrendered to China, telling them to stop the investigation.
When the chairman of the International Trade Commission received this instruction, he immediately realized that he was about to be cut off again, so he gave his assistant a look.
The other party immediately asked:
"So how should we tell the outside world?"