China plays economic hardball with U.S., not just Japan

Well, we in the United States are now also, apparently, getting a rare earths cutoff from Beijing. So is Western Europe.

Considering that China has raised interest rates at the same time, which will counteract any rise in the yuan it may grant, and may have further interest hikes up its sleeve, it seems clear this is part of an overall broad economic warfare strategy.

Let's see how the GOP's business wing, Obama and neolibs in the White House, and panda huggers like Teapot Tommy Friedman try to explain away this. Or, assuming the U.S. Chamber of Commerce is getting any of its foreign money from China, let's see it explain this away.

As for any panda huggers who say China's worries about inflation are legit, it could address them, at least in part, by other means. And, most those other ways might make its domestic populace happier, too.

That said, since the U.S. was already looking at alternative sources of rare earths, including here in the U.S., it will spur development. And, maybe even Preznit Kumbaya will get enough balls to officially declare China a currency manipulator. Even if he doesn't, the Eurozone, if it can similarly coordinate policy, may.

In other worse, Beijing may just have shot itself in the foot.