{"id":117377,"date":"2021-03-18T01:29:53","date_gmt":"2021-03-18T01:29:53","guid":{"rendered":"https:\/\/precoinnews.com\/?p=117377"},"modified":"2021-03-18T01:29:53","modified_gmt":"2021-03-18T01:29:53","slug":"china-is-building-up-its-ability-to-weaponize-trade-new-report-says","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/politics\/china-is-building-up-its-ability-to-weaponize-trade-new-report-says\/","title":{"rendered":"China is building up its ability to weaponize trade, new report says"},"content":{"rendered":"
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China is a large consumer of major commodities including crude oil and iron ore, but it relies heavily on imports to meet its domestic demand for those commodities.<\/li>\n
The country is diversifying its supply of critical natural resources by buying overseas companies and pivoting toward "stable autocratic regimes" for imports, said a report by Verisk Maplecroft.<\/li>\n
"By securing diversified sources, China will be in a better position to weaponise trade with geopolitical rivals," the risk consultancy said.<\/li>\n<\/ul>\n
China is diversifying its supply of critical natural resources \u2014 <\/strong>a move <\/strong>that will shore up Beijing's ability to weaponize trade against its geopolitical rivals, according to a newly published report by risk consultancy Verisk Maplecroft.<\/p>\n
"If China has a soft underbelly, it is its high dependency on foreign natural resources," read the report released on Thursday.<\/p>\n
China is a large consumer of major commodities including crude oil and iron ore. But the country relies heavily on imports to meet its domestic demand for those commodities.<\/p>\n
One way the country is diversifying its import sources is by buying stakes in overseas companies, said Verisk Maplecroft. Doing that will increase the proportion of Chinese-owned resources in the country's total imports, the report said.<\/p>\n