[T]he recent back-and-forth between Washington and Beijing over rare earth minerals looks technical on the surface, but it points to a deeper shift in global leverage.
Right now, Japan faces challenges unprecedented in recent years. Its alliance with the U.S., which has been the measuring stick for diplomacy, has been shaken.
U.S. companies, importers and retailers will bear the initial costs which most economists expect to filter through the supply chain as a cost-push inflation.