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China is hoarding strategic commodities, many supplied by U.S.
By Frank Dong
The Epoch Times, New York
Tuesday, December 28, 2021
China seems to be on a "hoarding spree," stockpiling strategic commodities from chips, minerals, to grains and cotton. In these global purchases, the United States is one of its largest suppliers.
Beijing has been hoarding chips. Industry experts believe China's nationwide hoarding played a role in the global chip shortage. In fact, China's State Administration for Market Regulation in August launched a probe into hoarding and other speculative practices as the regime found it disrupted its own market.
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It also prompted the U.S. Commerce Department to request global major semiconductor manufacturers to provide their sales data in September. The information it sought included who were the top three buyers of the firms’ products in each of the last three years. Some analysts said Washington needed the data to figure out to what extent China’s storing caused the chip scarcity.
China began hoarding chips in 2019 when the Trump administration imposed sanctions on its telecom giant Huawei. Fearing they could be next, Chinese companies, many of which are state-run, purchased a large number of chips enough to cover their needs for the next few years. ...
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