Gideon Rachman: “Donald Trump travels to Beijing this week against the backdrop of two wars that have gone wrong: the real war that he launched against Iran in February and the trade war against China that he dramatically intensified in April 2025.”
“The US president’s trademark bravado will be used to obscure the weakness of his position. The Chinese are unlikely to rub his nose in it. They know how to give face to foreign visitors, when convenient.”
“The reality, however, is that it is Xi Jinping who ‘has the cards’ — to use a phrase that Trump likes. The Chinese president’s ace is his country’s near monopoly over the production of rare earths and critical minerals that are crucial to the functioning of American industry.”
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