China's Stranglehold on Coveted Rare Earth Minerals
Summary
China now leads the market in rare earth minerals, which are essential for making things like cell phones, computers, and electric cars. The U.S. used to be the main supplier, but over the past few decades, China has taken over.Key Facts
- Rare earth minerals are important for making technology items like phones and computers.
- China controls a large part of the market for these minerals.
- The U.S. used to be the main supplier but lost its leading position.
- Rare earth minerals are also used in electric and hybrid vehicles.
- This change in the market has happened over the last few decades.
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