We wouldn’t expect a charity to fund a mine, much less a comprehensive national mining program focused on creating national self-sufficiency in critical metals and minerals, one, as an example, that would make a modern industrial country self-sufficient, and in that way “secure,” in critical technology metals. The scale of the challenge is something that no one private investment entity could fulfill since the goal is not financial profit.
By operating with the recognition that the efficient market “hypothesis,” which says that price alone determines supply, is a prescriptive, not a descriptive “rule” for “guiding” human behavior China in the last twenty-five years has come to dominate and control the critical natural resources of technology metals upon which the world’s societies have come to depend not only for their growth but also for their maintenance.
The Chinese Communist Party, the permanent governing party of today’s China, describes its chosen path to transforming the Chinese political economy as the process of creating “Socialism with Chinese Characteristics.” More and more actions of the Chinese state can be easily understood by noting that everything that it does can be described as an action with “Chinese characteristics.” In simple terms the Chinese government does whatever it believes is in the best interests of the Chinese economy in order to sustain the path of economic growth set upon 25 years ago originally by Deng Xiaoping when he made the decision that Mao was wrong to use unalloyed Marxist-Leninist (Western) Communist theory as a guide to China’s path to communism and instituted in its place a form of state-directed, market aware, capitalism to speed up the transformation of China to communism by adopting a form of capitalism that would create “socialism with Chinese characteristics, “ which is one step closer to the party’s goal of Communism with Chinese characteristics.
This simple analysis is ignored by America’s governing elite, which is obsessed with its own importance exemplified by the idea that capitalism with American characteristics is the ultimate form for a stable political economy, a “free” market unfettered by government manipulation. This is known as neoliberal economics and it holds that if there is a supply deficit of anything the “efficient” market will correct it through price adjustment.
This obsession has allowed China to take near control of the production and supply of nearly all of the critical natural resources of metals and non-fuel minerals necessary for not only the survival of all of the global technologically based societies but even more importantly for their continuation.
American efficient market dogma is reinforced by the blind specialization among (of) the modern self-described Western “scientists” who advise governments and who (as a kind of permanent civil service are in charge of perpetuating their own often very narrowly focused ( viz, “blind”) bureaucracies ) have led politicians to a dead end on the global warming “issue.” The “models” to “ameliorate, correct, or even reverse” global warming devised and calculated by the academically oriented science-advisors to governments clearly show that if they are to be implemented this will result in large capital and, ironically, environmental, costs without any benefits to the majority of participants. Yet none of these costs are ever mentioned by the ruling elites for whom they are in-fact a continuing source of patronage revenue based not on wealth creation, but rather on its destruction or simple re-distribution upwards!
It looks as if China has a much firmer grip on reality than does the U.S. or the E.U. I note that the existence of China’s permanent civil service, the “mandarin class,” precedes that of Great Britain by as much as 2000 years, and it has accommodated nicely the current ruling elite (The Communist Party of China) for the members of which giving bad advice has consequences, but even so its, the elite’s membership, in China, is a restricted one in which the member politicians are well educated, generally, and experienced in solving practical problems. In fact, the top membership of the Chinese Communist Party must pass through a cursus honorum with Chinese characteristics to achieve the highest offices.
One particular problem, urban air pollution, particulate emissions in particular (not a pun), is being addressed in China not by simply and only “regulating” its most apparent sources (urban steel mills and diesel/gasoline powered personal vehicles), but also by mandating and adopting ( viz, requiring) a permanent solution, the permanent elimination of the most obvious sources of the problem. Among these solutions, China is permanently banning by a fixed future date the sale or use of fossil fueled internal combustion engine powered vehicles in its urban areas. To implement this change of “technology” China is directly supporting economically the creation of a total supply chain for the production a sufficient number of battery powered electric vehicles to accomplish the goal.
Thus while China observes Europe and the USA emasculate the future of their heavy industry by either eliminating or severely crippling, economically and competitively, their baseload electricity production it, China, proceeds to build new fossil fuel powered as well as nuclear powered base load plants, opening them literally, in the case of fossil fuel, weekly, and treats the Paris Accord on climate change as the toothless debating club for social justice warriors that it was intended to be and has indeed become.
The costs of the reckless conversion of the world’s supply of electrical energy from cheap and reliable and continuous at high power when needed (!)fossil and nuclear fueled baseload is being borne entirely by the 99% who are the taxpayers of the Western oligarchies. There is no measurable economic benefit from this suicidal move; for China it is the chance of the millennium to rise to the top of the world food chain and to become before the end of this century the world’s premier economic power replacing the Anglosphere’s hegemony that began with the defeat of Napoleon in 1815. The same Napoleon who counseled “Let China sleep, for when she awakes….”