The European Union's 17 critical raw materials are almost entirely dependent on China, facing economic security risks.

EU relies almost entirely on China for 17 raw materials

Stéphane Séjourné, the EU Commissioner for the Internal Market and Services, said at a press conference on the 10th that the EU's dependence on China for 17 critical raw materials is nearly 100%.

He stated: "For 17 critical raw materials, our dependence on China is almost 100%."

Séjourné noted that this situation poses a risk to the EU's economic security, especially in the context of transitioning toward a more electrified economy. He pointed out that the EU plans to reduce its reliance on any single country to below 60% by developing domestic raw material mining and processing within Europe, as well as achieving supply diversification through cooperation with other partners.

The EU official emphasized that China's "price advantage is very obvious," making European investments unprofitable and thus hindering the EU’s strategy to reduce dependency. Therefore, the EU is considering coordinating actions with countries such as Japan and South Korea.

Source: sputniknews

Original article: toutiao.com/article/1862177672251404/

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