Ones and Tooze China Trade and the Louvre Heist
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Oct 31, 2025 The discussion kicks off with a recap of Trump's meeting with Xi Jinping, focusing on the latest trade truce. Delve into the world of rare earths, exploring China's dominance and its potential use as a weapon in the trade war. The hosts analyze contrasting deal-making styles of Trump and Xi, alongside the significant role of soybeans in agricultural politics. Shifting gears, they unravel the complex history of the Louvre's crown jewels, delve into museum thefts, and illuminate the shadowy realms of the illicit art market.
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Trade Truce, Not A Resolution
- U.S.-China goods trade hit $760 billion in 2024 despite tariffs and tensions.
- The Trump–Xi meeting produced a tactical truce, not a structural resolution of trade conflict.
Why China Controls Rare Earths
- Rare earths are 17 elements crucial for magnets and high-tech military gear.
- China dominates refining because it absorbed the environmental and investment costs others avoided.
Rare Earths As A Geopolitical Weapon
- China treats trade as a geopolitical arsenal and uses rare earths tactically.
- Beijing wields these supplies when it feels pressured or threatened by U.S. measures.