Some real gems here, even in just the first section of the article.

For the past few years, the West has been trying to break China’s grip on minerals that are critical for defense and green technologies. Despite their efforts, Chinese companies are becoming more dominant, not less.

They are expanding operations, supercharging supply and causing prices to drop. Their challengers can’t compete. “China is not just standing still waiting for us to catch up,” said Morgan Bazilian, director of the Payne Institute at the Colorado School of Mines. “They are making investments on top of their already massive investments in all aspects of the critical-minerals supply chain.”

Take nickel, which is needed for electric-vehicle batteries. Chinese processing plants that dot the Indonesian archipelago are pumping out vast quantities of the mineral from new and expanding facilities, jolting the market.

Meanwhile, Switzerland-based mining giant Glencore is suspending operations at its nickel plant in New Caledonia, a French territory, concluding it can’t survive despite offers of financial help from Paris. [Eat shit, Macron.] The U.K.’s Horizonte Minerals, whose new Brazilian mine was expected to become a major Western source, said last month that investors had bailed, citing oversupply in the market.

At least four nickel mines in Western Australia are winding down. Lithium projects in the U.S. and Australia have been postponed or suspended after a surge in Chinese production at home and in sub-Saharan Africa.

The only dedicated cobalt mine in the U.S. also suspended operations last year, five months after local dignitaries attended its opening ceremony. Its owners say they are struggling against a flood of Chinese-produced cobalt from Indonesia and the Democratic Republic of Congo.

Last year, non-Chinese production of refined cobalt declined to its lowest level in 15 years, according to Darton Commodities. The share of lithium mining done within China or by Chinese companies abroad has grown from 14% in 2018 to 35% this year, according to Fastmarkets, a commodities information provider. Over the same time, lithium processing done within China has risen from 63% in 2018 to 70%, according to Fastmarkets.

The breakneck expansion has assailed Western producers, who say China’s domestic economy can’t always absorb the flood of minerals its firms bring to market. Slower-than-expected electric-car sales growth in China last year meant there were fewer takers for China’s mineral surge, contributing to the crash in global prices.

What’s more worrying for Western producers is that there is little sign of a letup. “It’s just the way China does things. They have tended to build more capacity whether it’s in aluminum, or cement, or nickel,” said William Adams, head of base metals research for Fastmarkets. Chinese companies “all gun for market share, and the consequence for that is you get oversupply.”

Western officials, too, are sounding the alarm. In response to a question last month about China’s dominance in nickel, Canadian Deputy Prime Minister Chrystia Freeland said the market had been flooded, making businesses in free-market democracies uneconomic.

“It is our belief that that behavior can be intentional, can be happening with the purpose of driving companies in our country, in those of our allies, out of business,” she said. Freeland didn’t provide further details or any evidence for the claim.

The internal contradictions are sharpening.

The article explains later that Japan expected the US Federal Reserve to cut interest rates much sooner. But that hasn’t happened, hence the need to sell.

After BRICS, Japan is now dumping U.S. bonds and mitigating the losses it incurred from adverse interest rate bets. The latest data shows Japan has offloaded $63 billion worth of U.S. and European sovereign bonds by March 2024. The U.S. bonds sale represents nearly one-sixth of the Central Bank of Japan’s portfolio.

Japan is following in the footsteps of the BRICS alliance, which has been dumping U.S. Treasury bonds for more than a year. Offloading the bonds was the only way for Japan to reduce their losses on the interest rate cut bets.

Freakin emphasis freakin added.

As always, direct action gets the goods.

LONDON, June 17 (Reuters) - Ukraine has not been able to reach an agreement with a group of bondholders over restructuring some $20 billion of international debt during formal talks, it said on Monday, raising the spectre that the war-torn country might slip into default.

An agreement with holders of international bonds that allowed Ukraine to suspend payments after Russia’s invasion of the country in 2022 ends in August.

Ukraine’s Finance Minister Serhiy Marchenko said talks would continue and he expected the government to reach an agreement by Aug. 1. The country’s dollar-denominated eurobonds fell by more than 2.0 cents with near-term maturities trading at deeply distressed levels between 26-30 cents on the dollar.

Formal talks with the ad-hoc bondholder committee had been underway for nearly two weeks, as Ukraine seeks to rework its debt in order to retain access to international markets while meeting International Monetary Fund (IMF) demands to restructure.

Heh

Doh!

Response from Hamas: https://t.me/PalestineResist/44163

🟢 Senior Hamas leader, Osama Hamdan: — The movement has shown responsiveness and positivity towards all proposed ideas for a ceasefire.

We have called for a permanent ceasefire and are ready for a fair prisoner exchange deal.

Despite its flaws, the UN Security Council resolution emphasizes a permanent halt to fighting and the withdrawal of the occupation from the Gaza Strip.

The Security Council resolution will not take effect on the ground unless the occupation agrees to it.

The resolution contains points we do not accept, but its main aspects are positive.

Blinken is one of the obstacles to reaching an agreement because he acts solely according to “israel’s” wishes.

The problem in the entire situation is the American stance, and Blinken needs to be more precise.

All disruptions were carried out by “israel” with American approval.

Attempts to pressure mediators will not succeed in changing Hamas’s stance.

Or just gaslight them into thinking they don’t really need those things.

It’s almost as if they’re more interested in scoring propaganda points than actual analysis.

yewtu.be also has a progressive mobile app!

Best laugh I’ve had in weeks

Former Women’s Minister Anahi Durand indicated that the presence of U.S. troops is part of a strategy aimed at delivering lithium and other natural resources to U.S. companies.

Just putting it out in the open these days.

Please tag this as NSFL

He’ll never have the time to reflect.

He’d need the ability to first.

“No imperialism is when no iphone vuvuzela 100 gorbillion dead” or some shite.

To state the obvious, this is an intimidation tactic. They don’t even have to do anything with the footage. Just the fear that they might could be enough to deter future protestors. This is important. Because when we lose our fear, they lose their power.

I couldn’t find a Telegram channel for UCLA specifically, but this may help: https://t.me/PopularUniversity/445

Gah! Yes indeed, she said it well before Amin was born.

It’s just historical materialism. China is building up productive forces that are pushing the limits of capitalist relations of production. Those limits will inevitably be “burst asunder” so long as the planet is still habitable and capital refrains from a nuclear holocaust. As Samir Amin said, it’s either socialism or barbarism.