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https://theconversation.com/as-world-trade-shifts-to-invitation-only-clubs-australia-is-facing-tough-choices-275438>
"A profound shift is underway in global trade. Governments are moving beyond
traditional free trade agreements open to all countries and embracing what are
increasingly called “economic security agreements”.
This means the international trading system is moving from a club open to all
prospective members who can meet the rules, to invitation-only clubs where
security competition between nation states determines who can join or is
excluded.
An example of this new type of economic security agreement is the US-led
initiative to create a critical minerals trade bloc aimed at diversifying
global supply of critical minerals currently concentrated in one country:
China.
Critical minerals are hard-to-make niche metals essential to the production of
smart phones, semiconductor chips, electric vehicle batteries and a wide range
of high-tech military products.
The United States has invited more than 50 countries – including Australia – to
discuss a club for critical minerals economic security. Only invited countries
may participate, and China is not on the list.
Why are the US and partner countries building an exclusive minerals club? And
what benefits and risks could it pose for the world?"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
