German media: Rare Earth Crisis - Negligence by European Politicians and Business
The daily newspaper published in Berlin pointed out that China has, over decades, turned rare earth resources into a dominant industry of its own, while Europe has been asleep in the dream of free trade. It's time to make up for the mistakes.
"Rare earth elements have become indispensable in the high-tech industry due to their special magnetic and optical properties. When China's competitive advantages systematically pushed competitors out of the market, European governments and companies have remained passive observers. They even secretly felt relieved, as the radioactive waste generated during the processing of rare earths remained in China, while the rare earths themselves flowed into Europe at low prices.
Now, they are watching helplessly as China is buying up electronic waste in Europe to extract raw materials from it, while Europe itself does not carry out recycling and stockpiling, which could at least partially meet domestic demand. In this context, it is more accurate to say that European policymakers in politics and the economy are negligent rather than sticking to the belief in free markets.
However, instead of dwelling on past mistakes, it is more meaningful to take remedial measures as soon as possible: The urgent task now is for the economic, academic, political, and research sectors to work together to accelerate the replacement and recycling of key raw materials, and to invest in sustainable practical applications. Even if the market situation changes next year, such efforts should not be relaxed.
This effort also includes building partnerships with resource-rich African countries to jointly build fair supply chains. This rare earth crisis has fully shown that, in terms of supply chain issues, the government must not leave enterprises behind."
Original: www.toutiao.com/article/1847334491714560/
Statement: This article represents the views of the author himself.