US Needs Another Decade to Fix $1.2 Trillion Rare Earth Crisis

AI Summary

The U.S. faces a looming $1.2 trillion crisis regarding rare earth minerals, a situation exacerbated by China's dominance in the market. The article discusses the geopolitical implications and the race among global powers to secure these essential resources.

Rare earths are the backbone of modern tech, and China has cornered the global market for them. As it uses that dominance as geopolitical leverage, can other countries break its grip? Joe Deaux, Bloomberg News Corporate and Economic Statecraft Reporter joins Bloomberg Businessweek Daily to discuss why global powers are racing to secure rare earths. (Source: Bloomberg)