China seems to be on a “hoarding spree,” stockpiling strategic commodities from chips, minerals to grains and cotton. In its global purchases, the United States is one of its largest suppliers.
As the leading country in electric vehicle (EV) manufacturing, China is aggressively sourcing cobalt, a key metal in making EV batteries, from overseas. In the past five years, the second-largest economy has acquired most of Congo’s cobalt-producing mines, which produces two-thirds of the world’s supply.
As of last year, 15 of the 19 mines in Congo were owned or financed by Chinese companies, according to a recent New York Times report. Washington does seem to be waking up. A bipartisan piece of legislation to be introduced, will require Pentagon to secure/create a permanent stockpile of strategic rare earth and other minerals.
China is also buying American cotton on a large scale. Weekly exports of U.S. cotton to China in October increased by one-third from last year, pulling U.S. cotton reserves down to this year’s lowest point.
In the field of agricultural commodities, China’s stockpile is equally stunning. U.S. Department of Agriculture statistics show that China currently holds nearly half of global reserves of corn and other major grains. This translates to less than 20% of the world’s population stockpiling more than half of the globe’s maize (corn) and other grains, leading to steep price increases across the planet.
🇨🇳⚠️ICYMI #China hoards over half the world's grain, pushing up global prices— Prof. Michael Tanchum (@michaeltanchum) January 16, 2022
🌽China is expected to have 69% of the globe’s #corn (maize) reserves in the first half of crop year 2022,
🌾60% of global #Rice reserves
🍞51% of global #wheat reserves https://t.co/k71fpg6YBV
The CCP is not transparent in reporting its strategic reserves, and international purchase records and trade group estimates can only provide a partial picture of the precise contents of the regime’s stockpile.
Some experts have warned that the Chinese regime could weaponize its enormous stockpiles. Udumbra
And as usual, the US was caught off-guard.
Despite having all the clues out in the open.
First, China told citizens to stockpile food.— Gold Telegraph ⚡ (@GoldTelegraph_) January 17, 2022
Next, China blocked access to shipping location data.
Today, China tells citizens to avoid mail from abroad.
By the way, congestion at the world's biggest port continues to get bad again.
Is this a sign we are readying for war over Taiwan? (If yes, say goodbye to an independent Ukraine. Putin will seize our distracted moment to acquire those Black Sea ports he dreams about.)
US, Tokyo plan to stockpile weapons in Taiwan, Japan in case of conflict with China https://t.co/0TT6CJjbnq— The Headlines of Today (@HeadlinesOT) January 18, 2022