America’s Future Held Hostage? One Success Story Signals Freedom from China’s Rare Earth ‘Cartel’
Disruptions in key supply chains throughout the pandemic exposed a serious vulnerability: One of America’s greatest adversaries basically controls the needs of key U.S. industries.
The elements needed for some of the most commonly used technologies in the world today are relatively abundant in the earth’s crust, including here in the United States, but when it comes to the global supply chain, it’s almost entirely controlled by China.
“China produces about 65 percent of global rare earth mining, some 85 percent of processing, and about 90 percent, or a little bit above that, of the actual magnets that we use in our devices every day,” explained Frank Fannon, CEO of Fannon Global Advisors and former Assistant Secretary of State for Energy Resources.
Read the full story from CBN’s Caitlin Burke:
https://studio.youtube.com/video/YoiFVkKtT7s/edit
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