Rare-Earth Minerals: The New Battleground in Global Trade
Rare-earth minerals are not rare in occurrence but are complex to extract and refine.
China controls over 70 percent of global rare-earth processing capacity, giving it enormous influence over industries that depend on these materials – from smartphones to fighter jets.
By tightening export licensing and imposing quotas, Beijing is signaling it will no longer serve as the world’s unrestricted supplier of critical materials. The move follows similar Chinese measures in 2023–2024 that rattled markets and pushed Western nations to accelerate supply-chain diversification.