China has decided to pursue mercantile policies and has 'pegged' it's currency to $. The Chinese government holds around 1 trillion in us treasuries so they won't be short of dollars any time soon.Set against that is the where China derives its' income. With very much the greater part of the world' wealth, and it's wealthiest consumers in North Americs, Australasia and Europe, can China actually afford to hack off it's' biggest customer base, especially in the light of increased competition from its' Pacific Rim neighbours and the first murmerings of unrest amongst the Chinese populace at home about wages and working conditions? I read something about this recently in some of other magazine, maybe the Economist, not sure (but I know it was a printed publication, not on line)
Also, as the article says, China has a near monopoly on rare earth metals. USA currently gets 80% of the rare earth metals it needs from China. It can't really get them from anywhere else in the quantities it requires.
So, I suppose the countries you listed could impose sanctions on China but you only have to look at Europe to see what happens when you cut your nose off to spite your face.