The battle for Rare Earths: How much power does China hold over the West? | To The Point

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They’re called the “cocaine of the high-tech industry” – more valuable than gold or real estate, experts say , when referring to the 17 rare earth elements. At first glance, they’re just unremarkable bits of metal, but they’re so highly sought after that a silent war is already underway. China holds a near-monopoly on the mining and refining of these metals. Extracting rare earths is extremely dirty. Yet they’re found in nearly all high-tech products, from smartphones to electric cars. This gives China enormous market power – which it has used strategically, most recently in its trade conflict with the U.S. Why have so many industrialized nations made themselves so vulnerable? And what can they do in response – especially now, as China’s foreign minister tours Europe? Our question today: “The Battle for Rare Earths: How Much power does China hold Over the West?” Our guests: Felix Lee, from SZ-Dossier – former China correspondent and economic journalist Tim Borgschulte, CFO of Noble BC GmbH, a company trading in rare earths Mareike Ohlberg, China expert at the German Marshall Fund Chapters: 00:00 China decides how much rare earths it puts on the market 02:40 Security issue: 90 percent of all raw earths are coming from China 04:35 China is pricing out other countries 06:50 China is using rare earth in the trade war with the US 07:50 How long will stocks last? 09:00 Video: What exactly are rare earths? 10:50 China could use monopoly on rare earths in war scenarios 12:05 China used rare earths as “super weapon” in negotiations with US 14:40 China is using rare earths supplies as a geopolitical weapon 16:30 Video: alternatives to rare earths 18:20 EU must regain skills of mining and refining rare earths 21:20 How can Europe invest in rare earths mining and production? 22:50 Recycling of rare earths is possible, but complicated 23:30 EU needs better industry policies; states have to take risks #RareEarth #China #ToThePoint For more news go to: http://www.dw.com/en/ Follow DW on social media: ►Instagram: https://www.instagram.com/dwnews ►TikTok: https://www.tiktok.com/@dwnews ►Facebook: https://www.facebook.com/deutschewellenews/ ►Twitter: https://twitter.com/dwnews Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1