While Donald Trump has been warning about China's mercenary, mercantilist trade practices for much of the past decade - 'ripping us off' and hollowing out the middle class - (and who facilitated that?), Europe and Latin America, who until recently were screaming loudly to anyone who bothered to listen just how great BFFs they are with Beijing, are finally getting a taste.

In the latest shock to millions of TDS afflicted so-called  "economists" and "experts", during a session on the global economy at the G-7 summit in Kananaskis, Canada, EU Commission President Ursula von der Leyen admitted that, yes, "Donald is right" on China, as she slammed Beijing for disrupting global trade with subsidies to boost its own companies - accusing the CCP of "weaponizing" its leading position in the production and refinement of raw materials used for cars, batteries and wind turbines. 

"On this point, Donald is right — there is a serious problem," she said, encouraging Trump to join forces with US allies to address China's trade imbalances, rather than punishing them with his own tariff scheme. 

"When we focus our attention on tariffs between partners, it diverts our energy from the real challenge — one that threatens us all." 

She also slammed China for "undercutting intellectual property protections, massive subsidies with the aim to dominate global manufacturing and supply chains," adding "This is not market competition — it is distortion with intent," Politico reported, costing the liberal publication's editors several years of life expectancy. 

She then warned of "a new China shock," accusing Beijing of flooding the world with cheap, state-subsidized products, and urged G7 nations to step up and combat its dominance in the raw materials sector. 

In response, the G7 leaders created a draft statement in which they will pledge to implement a "G7 critical minerals action plan," though it does not call out China by name - instead only mentioning "non-market policies and practices in the critical minerals sector."

It's not just Europe: as anyone who gets in bed with China, eventually learn there is a price. 

On Thursday, Reuters reported that Brazil is being flooded by cheap Chinese crap (in this case electric vehicles) offering Brazilian car shoppers 'relatively low-priced options in a market where the green-car movement is still in its infancy.'  Of course, the dumping of Chinese products means death for domestic producers, and now, Brazilian auto-industry officials and labor leaders are terrified that the influx of cars from BYD and other Chinese carmakers will set back domestic auto production and hurt jobs.