Hegemonism: Trade Policy and Rhetoric

hegemonism: Lu described US trade policy as typical economic terrorism, economic hegemonism, and economic unilateralism, according to CNN. The statement followed similarly ominous rhetoric from Chinese state media, which issued a stern message to Washington on Wednesday Don't say we didn't warn you. The Ministry of Foreign Affairs said the White House had brought huge damage to the economy of other countries and the US itself, spokesperson Lu Kang told reporters in Beijing on Thursday. The People's Daily, the newspaper of the ruling Communist Party, used the loaded phrase in a commentary on Wednesday, in which it said that China would never accept the US' suppression of Chinese development. On May 15, the Trump administration signed an order that potentially banned major Chinese companies, such as technology giant Huawei, from buying vital components such as computer chips from the US. Many of those chips are made using rare earths, of which China is a major exporter. Read More The warning came as China's top economic planning agency suggested it would be willing curb exports of rare earth minerals, which are crucial for high-tech manufacturing. (news.financializer.com). As reported in the news.