The U.S.-China Trade War's 90-Day Pause Was 70 Years in the Making
Author: Steve H. Hanke and Jeffrey Weng
Outlet: Fortune
Date: May 15, 2025
Hanke and co-author Jeffrey Weng trace the origins of China's leverage in the U.S.-China trade war back seven decades, noting that just two decades ago China led in only 3 of 64 critical technology fields tracked by the Australian Strategic Policy Institute, versus 60 for the United States, a gap that has since narrowed dramatically. They root China's current strength in rare earths back to 1950, when Chinese geologists discovered the Bayan Obo deposit in Inner Mongolia, one of the world's largest light rare earth reserves, arguing that the recent 90-day trade war truce reflects decades of deliberate Chinese industrial strategy rather than a short-term negotiating win for Washington.
Full Citation:
"The U.S.-China trade war's 90-day pause was 70 years in the making," Fortune, May 15, 2025. (with Jeffrey Weng)