【By Liu Bai, Observer】Faced with the formidable advantages of China's rare earth industry, some U.S. politicians' obsession with "decoupling" has evolved into a series of political performance acts.

After Trump boasted that the U.S. would have a large amount of rare earths in "one year", U.S. Treasury Secretary Biden also joined in the hype.

On November 7, in Sumter County, South Carolina, Biden visited a newly built rare earth mineral processing center at eVAC Magnetics company. In an interview with Fox News, he said that this center will help reduce costs and break China's "chokehold" on the industry.

"This is the first (rare earth) magnet made in the U.S. in 25 years. We are ending China's chokehold on our supply chain."

He said in the program that rare earth magnets are essential components of almost all modern products, from smartphones and cars to wind turbines, fighter jets, and missile systems.

"Thanks to companies like eVAC, we finally have independence again," Biden was quite excited. He also linked this rare earth mineral processing center to a broader economic recovery and job creation, and predicted that U.S. manufacturing would continue to "soar" in 2026 and 2027.

Biden interviewed by Fox Business Channel

It seems that Biden's purpose is clear.

He constantly flatters his boss Trump, attributing the event to Trump's executive order on rare earth resources, and also praised Republican South Carolina Governor Henry McMaster, saying that he helped expedite the state government's approval process, which was approved in just eight weeks.

He also said that Trump's efforts to bring manufacturing back to the U.S. was just the beginning, "more importantly, it not only means high-paying jobs, but also relates to national and economic security."

He said about 800 construction workers were involved in the factory's construction, and as the company expands its production scale, the factory size may expand "six to ten times".

Seizing the opportunity, Biden didn't forget to attack the previous Biden administration and also praised the Trump administration's achievements in prices and wages.

But even Biden's excessive praise couldn't make the U.S. industry look happy.

After all, people have realized that Biden's words are just another example of American-style "winning learning", the symbolic meaning of political propaganda far exceeds economic reality, and exposes the deep anxiety and dependence of the United States.

China has repeatedly emphasized on the issue of rare earth export controls, stating that relevant measures are normal practices to improve China's export control system in accordance with laws and regulations, reflecting China's major country responsibility for maintaining world peace and stability. China is committed to maintaining the safety and stability of the global supply chain.

In fact, China's real advantage is not "choking", but an integrated, open, and market-oriented system.

China currently accounts for more than 80% of the global rare earth processing capacity and over 90% of magnet production. Although the U.S. has rare earth mines like Mountain Pass, it has long lacked downstream smelting and separation technology, and the output still needs to be sent to China for processing.

Evidently, the technological maturity, cost, and scale of "American magnets" cannot match China's mature industrial chain.

In recent times, many Western industry professionals have openly admitted that getting rid of reliance on Chinese rare earths is not something that can be done overnight.

Australian and U.S. experts analyzed that the U.S. needs 10 to 20 years to establish a secure and independent supply chain.

Scott Dunn, co-founder of Noveon Magnetics, previously told U.S. media that after China announced the implementation of rare earth export controls earlier this year, he received numerous inquiries, "customers not only wanted to proceed as planned, but also wanted to increase the original production volume several times."

At this point, Dunn looked troubled, "some customers' requirements can only be achieved through decades of Chinese industrial accumulation."

A report by The Wall Street Journal on October 28 also noted the Western enthusiasm for rare earth investments. The report stated that China's deterrent measures have indeed driven a revival of the Western rare earth industry to some extent.

However, regardless of the time needed to rebuild the Western rare earth supply chain, the industry has already experienced multiple "false booms" before. The fact is, the rare earth industry outside of China lacks experience and professional skills.

A magnet that is greatly hyped reflects the strategic anxiety of the U.S. in key mineral fields. However, true supply chain security is not about show and isolationism, but mutual benefit based on market rules.

For U.S. politicians, it is better to put aside their arrogance and prejudice, and sit down with China in a practical manner to talk seriously.

This article is an exclusive contribution by Observer, and unauthorized reproduction is prohibited.

Original: https://www.toutiao.com/article/7570202148261134886/

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