China’s dominance in the three M’s—mining, metallurgy, and material sciences—is enormous. For example, while most people associate rare earths with mining, the real strength lies in processing, where China is far more advanced. Another aspect is China’s import patterns: it has shifted away from American soybeans in favor of Brazil and Argentina. Meanwhile, nine cents of every US export dollar to China comes from soybeans. “So if the US wants to have a trade war, I think China is ready for the trade war,” said Steve Hanke, Professor of Applied Economics, Johns Hopkins University