Part 4/15:
The root cause of the crash wasn't purely market-driven. Instead, it stemmed from geopolitical miscommunication—specifically, from China's announcement of new export controls on rare earth metals on October 9th. These materials are critical for AI chips, electric vehicles, and advanced weaponry. Although rare earths are relatively abundant, China controls about 60% of global mining and 90% of refining capacity, giving Beijing significant leverage worldwide.