The drama in U.S.-China relations is a daily occurrence, and we are witnessing the emergence of a China that can play some very strong cards. Recently, China announced tighter export controls on its export of rare-earth minerals. These are critical elements that are used in the production of electronic components in products such as cars, computers and military equipment.
China produces approximately 70% of the world’s mined rare-earth minerals and approximately 90% of the world’s refined rare-earth minerals. Other countries, such as Canada, have huge reserves of rare-earth minerals; however, China has invested billions in order to scale up its production. It would take years for other countries to create the production infrastructure to match China’s current output.
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