Keith Bradsher

rules on semiconductors combined with...

The Arab oil embargo in 1973 against the United States and its allies, which was aimed at halting American support for Israel at the time.

So it is both a high-tech restriction and, in China's case, it is now also a raw material restriction, both at the same time.

I really do.

This is China trying to make sure that it

controls global commerce and can turn on and off the taps, not just for goods leaving China, but for goods moving across Europe, across North America, across South Asia, you name it.

This is seeking a new global level of comprehensive control out of Beijing by the Ministry of Commerce.

China has concluded that it benefits from taking very strong stands towards Trump and also towards Europe.

This is a China that is not allowing itself to be pushed around.

We've now seen top Chinese leaders line up with the leaders of Russia and North Korea at military parades twice in six weeks in Beijing and then in Pyongyang.

And so

China has really in some ways embarked on a new geopolitical stance and a new economic stance of standing tough against the West to protect China's strategic interests.

For the rest of the world, this could be extremely damaging.

Any country with an advanced manufacturing sector has to be really worried about this.

there is the immediate damage of American companies continuing to have trouble getting enough rare earth magnets just to make their day-to-day products.

Detroit has been struggling to get enough brake motors, steering motors, power seat motors, all these different systems that require rare earth magnets.

And as more of these Chinese regulations from October 9th take effect, it will become even harder for American companies, for example, even to move parts across the border from Mexico or across the border from Canada.

The West is already having trouble in slowing down production of some military items because of the shortage of rare earths.

The West failed to stockpile these rare earths in advance.

And so the military contractors trying to supply Ukraine