In This Issue
Vol. 26 Issue 23
China’s Massive Resource Hoarding Belies Its Real Plans
- The Import Story: A Wartime Resource Shopping Spree
- The Export Story: Lithium & Rare Earth Minerals
It was a Sunday in mid-June, and despite the warm spring temperatures, the mood out of China’s London embassy was chilly.
Only 10 hours away by train, in the city of Cornwall, the G-7 had just wrapped their annual summit. And President Biden’s efforts to win over European leaders in his fight against Chinese authoritarianism had seen one key success: a multinational call for further investigation into the origins of the Covid virus.
China certainly wasn’t about to sit back and take such a snub. “The days when global decisions were dictated by a small group of countries are long gone,” read a statement from the embassy.
“There is only one system and one order in the world, that is, the international system with the United Nations at the core and the international order based on international law, not the so-called system and order advocated by a handful of countries,” the embassy missive continued.
Those of you who are regular readers of the Global Report will understand the deeper meaning behind this statement: as we first highlighted last year, China has been working hard to increase its influence on the United Nations Security Council, resulting in a global governance structure that increasingly kowtows to China’s demands. So it’s no surprise that China might hold up the UN as a bastion of international cooperation. Despite the fact that the Security Council has only five permanent members that influence many of its decisions. Two fewer, in fact, than the G-7.
But I digress.