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Commodities

China determined to build iron ore hub in Africa as Australia goes Quad

World's largest untapped reserve in Guinea could be online by 2025, expert says

The freighter Shinas Max carrying 400,000 tons of iron ore is berthed at Zhoushan Port in China's Zhejiang Province. China currently relies on Australia for more than 60% of its iron ore imports.   © Getty Images

NEW YORK -- There was a time when Japan, like China today, was the rising power in the East that kept military planners in the West awake at night.

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