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Friday, June 11, 2021

Gatestone: The Effect of Communist China on America's Clean Energy Plan

 

The Effect of Communist China on America's Clean Energy Plan

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Rare Earth Materials
Pictured: Mined ore containing rare earth materials on display in Hohhot, Inner Mongolia, China. (Image source: Brücke-Osteuropa/Wikimedia Commons)



  • "[I]t is as if the Middle East not only sat on most of the world's oil but also, almost exclusively, refined it and then made products out of it," wrote The Economist in 2019.

  • It is not that rare earth materials do not exist outside of China, although it sits on the largest quantity: approximately 30-40% of all known rare earth deposits. Rather, extracting the materials is a difficult and highly polluting process that China was willing to take on.... "making it practically impossible for competing companies outside China to get a foothold," according to the Danish Institute for International Studies.

  • China's de facto monopoly forms an acute problem: international reliance on them could hamper vital industries and national security at a time of maximum competition between China and the US.

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