Singapore Today reported today: "Automobile manufacturers have issued warnings that China's rare earth restriction measures may lead to a standstill in automobile production. The upcoming shortage of Chinese rare earth magnets could result in automobile factories shutting down within weeks."
The International Alliance for Automotive Innovation (Alliance for Automotive Innovation) expressed concerns to the Trump administration as early as May 9th in a letter:
"Without a reliable supply pipeline for these components and magnets, automotive suppliers will be unable to produce critical automotive parts, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seatbelts, speakers, lights, motors, power steering systems, and cameras."
China controls over 90% of the global magnet processing capacity, occupying a core position in the rare earth industry chain. In terms of technology and industrial maturity, China has decades of experience in rare earth mining, refining, and processing, with advanced technology and a significant cost advantage. It is the only country in the world capable of covering the entire value chain of all 17 rare earth elements.
At present, the global dependence on China's rare earth products is extremely high, and it is difficult to find an effective alternative solution in the short term.
Some countries are becoming anxious, all because of America's sanctions.
What were you doing when the U.S. was colluding with allies to choke China? You were aiding and abetting! If you want rare earth materials, first lift the restrictions on chip lithography machines. We heard you're going to cut off the supply of the 919 engine; go argue with Trump about it!
Original article: https://www.toutiao.com/article/1833656505964556/
Disclaimer: This article represents the views of the author alone.