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Decoupling with China carries risk of major disruptions: Rio Tinto chairman

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Decoupling with China carries risk of major disruptions: Rio Tinto chairman

2024-05-18 17:19 Last Updated At:17:47

Dominic Barton, chairman of leading global mining group Rio Tinto, warned against severing economic ties with China, saying it could lead to higher prices and slower development of new products and technologies, during an interview.

This comes as the White House announced on Tuesday new tariffs on imports of electric vehicles, solar cells and other clean-energy products from China, in a protectionist move widely believed to imperil the American ambition to enhance competitiveness and slash carbon emissions.

Many businesspersons are concerned that this newly announced tariff hike could damage global supply chains and lead to further decoupling of the U.S. from China.

During an interview with China Global Television Network (CGTN), Barton voiced his opposition to decoupling, calling it an impractical approach.

"I think there's some legitimate reasons for resilience in supply chains, and we learned that from COVID in a way, too. Everyone, every country wants to make sure they have some resiliency. But we also need to remember that the foundations of a lot of the growth we've had in the global economy and bringing hundreds of millions of people out of poverty, is because we've had global supply chains. So this idea that we're going to decouple is just ridiculous in my view. It's ridiculous and it'll have very severe consequences. We have to be very careful of that and how we think about that balance," he said.

Barton emphasized the importance of global collaboration for efficient and affordable production, especially in the shift toward sustainable energy and technologies.

"I think the challenge is we don't have a deep enough understanding, the common person like myself, of how supply chains work. We are incredibly linked in what we do. One of the consequences of a less global supply chain is higher inflation. It's just a fact. And higher inflation is not good for anyone," he said.

"Second thing is innovation. If we're going to make this energy transition, we need the materials. We also need to produce the equipment, the technology to be able to do the transition. The solar panels, the electric vehicles, the batteries, and it's in everyone's interest that we have the most efficient, low-cost way of doing it. And so these are factors that we need to make sure we keep in mind in a more politicized environment, because there are real consequences to changing that," Barton added.

Decoupling with China carries risk of major disruptions: Rio Tinto chairman

Decoupling with China carries risk of major disruptions: Rio Tinto chairman

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China unveils first self-developed mega hot isostatic pressing equipment

2024-07-20 11:37 Last Updated At:12:07

China on Friday unveiled its first self-developed mega hot isostatic pressing (HIP) equipment, marking a significant breakthrough in the material manufacturing sector.

As the largest of its kind in China, this newly released HIP equipment excels in densifying and optimizing large and intricately shaped materials under ultra-high temperature and pressure.

The HIP is a key technology used in producing high-performance materials, significantly enhancing their wear resistance, corrosion resistance, and mechanical properties.

"In simple terms, this equipment transforms ordinary materials such as metal or porcelain into high-performance ones. Through HIP, material performance is greatly improved, and the average fatigue life of the material can be increased by at least ten times, meeting the needs of extreme working conditions," said Qi Wen, leader of the mega HIP equipment project.

With wide applications, the HIP technique is suitable for both metal and non-metal materials, such as porcelain or glass. This mega equipment will advance the development of China’s aerospace, oil and gas, and machinery manufacturing sectors, enhancing China's competitiveness in the international material manufacturing arena.

China unveils first self-developed mega hot isostatic pressing equipment

China unveils first self-developed mega hot isostatic pressing equipment

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