That’s because China now controls over 95% of the world’s supplies of rare earth metals, and has placed curbs on rare earth exports, creating a resource stranglehold. China slashed export quotas by 72% in the second half of last year, and imposed a further 35% cut in the first half of 2011 from the year-ago level. As a result prices for some rare earths have jumped more than 1,000%.
China has been playing a long game with rare earth metals. You asked a specific question, the answer of which wouldn’t really explain anything. I gave you a longer answer that gives a fuller picture.
Trump and company were fools to trigger China like this.
China has been doing this for years.
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They’ve been buying up and hording rare earth metals for years to secure their own manufacture and as a form of soft power.
From 2011:
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China has been playing a long game with rare earth metals. You asked a specific question, the answer of which wouldn’t really explain anything. I gave you a longer answer that gives a fuller picture.
Trump and company were fools to trigger China like this.
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