Competition for Rare Earth Elements and Critical Minerals

SOURCE www.npr.org
The race for control over rare earth elements and critical minerals is intensifying, with the U.S. lagging behind China. The importance of these resources and the competition to control them are discussed.

Key Points

  • Rare earth elements and critical minerals are essential in modern technology
  • China currently holds a dominant position in the global supply chain
  • Competition for control over these resources is intensifying

Pros

  • Increased awareness of the importance of rare earth elements and critical minerals
  • Potential for the U.S. to boost its position in the global competition

Cons

  • Current lagging position of the U.S. compared to China
  • Potential challenges in catching up to competitors