Part 11/14:
This rare earth gamble is emblematic of China’s broader challenge: maintaining global relevance amid internal decline. Comparable to OPEC’s dominance in the 1970s, only to be overtaken by U.S. shale oil, China’s monopoly on critical minerals may soon become a thing of the past. Countries like Japan, Australia, India, Canada, and Vietnam are actively developing alternative sources and processing capacities.
In five years, China’s grip on rare earths could resemble its technological dominance—full of swagger but with no real market outside its borders. “Made in China 2025” initiatives face becoming “Trapped in China 2025,” as diversification accelerates and the world sidesteps Chinese products and materials.