A former Department of Commerce official recently urged American officials and the general public to adopt an elevated sense of urgency to address the threat of U.S. supply chain dependence on communist China.
“We are running out of time. We really need to race to solve this,” Nazak Nikakhtar, former assistant secretary for Industry and Analysis during the first Trump administration, recently told EpochTV’s “American Thought Leaders,” adding that the problem had been neglected for “at least two decades.”
In her view, the issue stems from the deliberate strategic actions of the Chinese communist regime. She said that for many years, Beijing has engaged in unfair trade practices—often paying subsidiaries to flood the global market with cheap made-in-China products that others can’t compete with, thereby gaining control of an industry’s supply chain and moving on to undercut the next one.
Compared to China’s dominance in the production of steel, batteries, solar cells, and personal protective equipment—all of which the American public is aware of due to the tariffs imposed during the Trump and Biden administrations—China’s dominance in lab-grown industrial diamond production is equally critical yet lesser known.
These diamonds are essential for cutting tools—crucial for building, drilling, and manufacturing. The affected industries range from cars to aerospace and defense. According to the U.S. Geological Survey (USGS), China produces 95 percent of the world’s synthetic diamonds, and U.S. dependence on imports has fluctuated between 80 and 95 percent since 2018. […]
— Read More: www.theepochtimes.com
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
