Dow Plunges over China's Fierce "Don't Say We Didn't Warn You" Threat

onceninerfan

By CCN: Dow Jones futures point to a weak stock market open on Wednesday as China threw fierce words at Donald Trump.
China’s People’s Daily newspaper published an editorial using a threatening phrase that carries enormous historical weight in China. Simply translated it reads:
“Don’t say I didn’t warn you.”
In the same editorial, China warned it could restrict the export of “rare earths,” which contain minerals vital to the US tech and defense industries.
As of 7.04 am ET, Dow Jones Industrial Average (DJIA) futures are down 142 points (0.56 percent) at 25,227. The triple-digit slide points to a sharp loss when the US stock market opens.
S&P 500 futures are faring little better, currently down 14 points (0.51 percent) at 2790, while the tech-heavy Nasdaq Composite Index flounders at 7,245, down 50 points (0.69 percent).
Overnight, the Asian markets were mixed. China’s Shanghai Composite (SSE) rose 1.6 percent, partially on the back of rare earths stocks. Japan’s Nikkei, however, collapsed to a triple-digit loss, down 1.2 percent.
CHINA’S THREAT: “DON’T SAY I DIDN’T WARN YOU”
The phrase might sound relatively commonplace in English, but China’s choice of words is symbolic. The Chinese Global Times newspaper (associated with China’s communist party) explains:
“Those familiar with Chinese diplomatic language know the weight of this phrase.”
President Trump on Thursday predicted a swift end to China-US trade war. This kind of confidence believing that the US can quickly press China to submit is the biggest obstacle to reaching a deal. The trade war may last for a long time. I think people better not hold illusion.
— Hu Xijin 胡锡进 (@HuXijin_GT) May 24, 2019
It has only been used a handful of times before by Chinese media. And always in the context of grand political threats or military importance. In 1962, it was uttered before China went to war with India. And again in 1979 before the violence in Vietnam. In other words, it’s a heavy threat.
The severity of the words are ringing in the ears of Dow traders.

onceninerfan

“勿谓言之不预也”