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It's not the rare earth thing that China used - they literally talked about it in their media a few times.
They simply paraded a economic atomic bomb around wallstreet enough that these guys got scared enough and called Donnie (might even be the real reason Musk and him had a fallout) - who in term tried to persuade the Arabs to help him out if the PRC would pull the trigger.
Whaf economic bomb? The bonds and, to a far lesser degree, shares. The PRC owns around 682 billion dollars in US bonds. Combined with currency reserves (around 1.5-2 Trillion USD) and other similar things it is expected to wield a total market power of around 3 trillion USD. Even putting 20% of these on the market with a "we don't care about the losses,motherfucker" directive would ruin the US econmy for a decade in possible domino effects.
The funny things? In terms of bonds China is not even that big - Japan has almost twice that, the UK has 888 Billion. Even Belgium has around 400 billion of US bonds.
In other words: If Europe would finally get their shit together and parade it's own,much larger, economic H-bomb ready AND would make it clear that they would be willing to use it Donnie would still pout,but do much less. But of course...we don't. Germany has a wallstreet manager as a chancellor, Macron is on it's way out, Meloni is in bed with him, etc.
This will literally lead to European lifes being lost at some point.
Well yes, but also it's much easier for China to eat the losses than for Europe, since a lot of the Treasuries are privately owned
Nope, I talked only about treasuries that are publicly or similarly owned.
I'll be damned, you did! 👍