The globalization of production has produced a dependency on overseas markets for the acquisition of goods. As a result of the pandemic-related closure of the country’s borders and ports, Americans witnessed barren stores and rising costs. The increase of gasoline costs at the pump has prompted many Americans to question why we import oil from other nations when our own supplies are sufficient.
If all goes well. International trade appears to be a positive development. However, it also places the power in the hands of the product’s owners.
In the past, these kind of confrontations have resulted in severe consequences and even war.
Western Journal considers the following:
The United States has a history of putting rivals on the world stage in a corner economically, obligating them to make the first moves to war.
On July 26, 1941, one of the most notable examples of this tactic occurred.
President Franklin Roosevelt imposed broad economic sanctions and asset seizures on Japan on this date.
As a result of those sanctions, “Japan lost access to three-fourths of its overseas trade and 88 percent of its imported oil,” according to History.
Japan had no alternative but to declare war on the West and mobilize its imperial navy against the United States less than five months later because it needed oil to sustain its military might.
Those who have gone through this previously foresee a similar situation developing.
According to CNBC, the United States looks to be employing the same tactic against China by severely limiting shipments of chips and semiconductors.
Access to petroleum was critical for militaries in the 1940s, but access to semiconductors is essential for current militaries to sustain their worldwide dominance.
More on this story via The Republic Brief:
According to CNBC, the U.S. Department of Commerce recently introduced strict rules and licensing requirements for chip exportation to China with the apparent goal of cutting the country off from access to chips used in supercomputers.
This included a measure to cut China off from certain semiconductor chips made anywhere in the world with U.S. equipment. CONTINUE READING…