As China and the United States accuse each other of provoking the latest escalation in trade tensions and disrupting the world economy, analysts say both share a goal in their war of words: applying maximum pressure until a deal is struck.
In a series of posters published online Thursday, the Communist Party mouthpiece People’s Daily reiterated Beijing’s stance: the goal of China’s rare earth regulations is to better safeguard world peace and, following a “comprehensive assessment”, China is certain the impact of the measures on supply chains will be minimal.
At a press conference the same day, commerce ministry spokeswoman He Yongqian said the US claim “severely distorts and exaggerates China’s measures, deliberately causing unnecessary misunderstanding and panic.”
John Gong, professor of economics at the University of International Business and Economics in Beijing, said the two countries’ back-and-forth was ultimately a battle of competing narratives.
