China Controls Over 80% of the Rare Earth Metals Required for High Tech Manufacturing

While the United States introduces more and more restrictions on the sale of its technologies to China, (for example, as it was the case with Huawei, the US prohibited selling processors for smartphones and technologies to manufacture processors). China responds by capturing an increasing share of the market for rare earth metals, which are used in the production of high-tech electronics, including processors.

China's share of the mining market has always been large, but it has increased significantly over the past few years and now stands at 80%, according to Professor Steve Hanke.