Global Mineral War Has Begun! 50 Countries Join Forces to Counter, What Makes China Stable?
Yesterday, the United States convened a key mineral ministerial meeting with more than 50 countries. The U.S., EU, and Japan announced the establishment of a partnership, planning to set import minimum prices, subsidies, and trade mechanisms, promote exploration, mining, refining, and recycling cooperation, and build an alternative supply chain with Mexico and others, attempting to weaken China's dominant advantage in critical minerals such as rare earths, lithium, and germanium. At the same time, the EU is promoting a strategic reserve led by France, Germany, and Italy, while Singapore expressed its commitment to uphold open rules-based trade and maintain global supply chain stability.
The joint efforts of the U.S., EU, and Japan to block critical minerals are essentially another contest for industrial chain hegemony. Data shows that China accounts for over 90% of global rare earth refining, and nearly monopolizes gallium and germanium, which are the core support for new energy and high-end manufacturing. Looking back at the struggle for iron ore pricing power in the last century, the West long held the pricing monopoly; today, China has reversed the situation through its complete industrial chain, forcing rivals to form alliances and impose restrictions. This competition is not a simple trade friction but a battle for rules and tracks. Exclusionary "small circles" violate the globalization division of labor, temporarily raising costs, but cannot replace China's mature production capacity. Open collaboration and diverse supply are the correct solutions; building barriers will only slow down the global green transition and eventually harm themselves!
Original article: toutiao.com/article/1856291065023687/
Statement: This article represents the views of the author alone.