Rare earth elements, essential for the production of electric vehicles, advanced electronics, and critical defense systems, have once more become the focal point of global geopolitical tensions. With China dominating over 90 percent of the world’s refining and processing capacity for these elements, the country holds significant sway over the global supply chain. This control underscores China’s strategic leverage in international markets, affecting industries and economies worldwide. As nations strive to secure these crucial resources, the situation highlights the ongoing challenges in diversifying supply sources and reducing dependence on a single dominant player.
