Summary
China has now imposed export controls on a range of critical rare earth minerals and magnets, dealing a major blow to the US.
“Rare earths” are a group of 17 chemically similar elements that are crucial to the manufacture of many high-tech products. Everything you can switch on or off likely runs on rare earths.
The International Energy Agency (IEA) estimates that China accounts for about 61% of rare earth production and 92% of their processing.
A US Geological report notes that between 2020 and 2023, the US relied on China for 70% of its imports of all rare earth compounds and metals.
It used to be a bully you could reason and work with, and that at least understood give and take. Now it’s just a drunk bully, starting fights for whatever.
It’s a toddler
Just look at the tantrums, let alone the shitting itself…