The $87.5-million deal is the latest Chinese acquisition of a lithium project in South America, following Tianqi Lithium’s decision to buy 24% of SQM for $4.1 billion, which has not yet been approved by Chile’s antitrust regulator.
It's probably not what U.S. President Donald Trump had in mind when imposing tariffs on aluminium imports, but it looks likely that some of the big winners from the 10% import tax will be China's producers.
Like the Soviet Union in the 1970s, China is coming to the end of a long labor-force boom and hoping that an orgy of investment will keep the old magic going while stabilizing its fraying frontiers.