Part 5/12:
A major focus of the discussion centered on rare earth minerals, of which China supplies nearly 70% globally. The overwhelming Chinese control over refining and processing capabilities has created significant leverage. Greer explained the U.S.'s strategic efforts to reduce dependence, notably through recent investments in domestic mining and processing capabilities—like the U.S. government's order to develop critical mineral infrastructure in Alaska.
The strategy includes fostering private sector involvement, exemplified by JPMorgan's recent announcement of a $1.5 trillion fund to invest in manufacturing and critical sectors within the U.S. This move aims to diversify and de-risk the supply chain, making the U.S. less vulnerable to Chinese dominance.