China’s rare earth advantage isn’t just about control (Walter Colnaghi – The Interpreter)

The 90-day pause in the US-China trade war brought relief to global markets. But while the trade truce is good news, rare earth elements have steadily emerged as a new flashpoint. Beijing’s dominance over this strategic industry – vital for military and renewable energy technologies – and its ability to manipulate it at will are alarming. Yet focusing on China’s control of rare earths supplies arguably distracts from the underlying problem. Global market conditions created by China’s industrial policy make alternatives economically unviable, entrenching China’s dominance. If those conditions are not addressed, there is no escape from this chokehold.

China’s rare earth advantage isn’t just about control | Lowy Institute