How China created a chokehold on the rare earths industry
Summary
China controls the process of refining rare earth elements, which are used in many electronic devices and military technology. This control means China can influence global supply, affecting other countries' industries, such as those in the United States and Europe, particularly during trade negotiations.Key Facts
- Rare earth elements, despite their name, are common but need refining for use.
- China has a near-monopoly on refining these elements.
- In spring, China limited exports of some rare earths, impacting global supply.
- American and European companies had to halt some production due to lack of access to Chinese rare earths.
- China's dominance took decades to build, starting with learning from the U.S.
- The U.S. was once the leader in rare earths before China's rise.
- China's rare earth industry initially suffered from chaotic, small-scale mining.
- Uncontrolled mining in China has caused environmental harm.
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