, Columnists
Ending China’s Chokehold on Rare-Earth Minerals
The U.S. and allies can break Beijing’s monopoly on elements vital to electronics and national defense.
Can you say praseodymium?
Photographer: Nelson Ching/Bloomberg
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China dominates the global market in rare-earth minerals, producing 70% of the world’s exports. But this isn’t a gift of nature — it’s the result of 15 years of industrial policy. The Chinese government identified a critical economic chokehold, invested in building companies, subsidized production to underprice and ultimately destroy competition, and then constructed a monopoly.
U.S. supply chains — both military and commercial — are almost wholly dependent on China for processed rare earths for our advanced weaponry and microelectronics.