Hearted Youtube comments on Into Europe (@IntoEurope) channel.
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Several point of interest:
1. China account for 95% of the world Rare Earth supply was based on a study back in 1980s which several things has drastically changed, in 2000s, the official reserve number is 528 million tons, while in 2009 that number decreased to 185 million tons
2. Additional survey on previous uncharted area such as the EEZ of Japan has proven there are abundant rare earth supply, as the demand and price increase, we should expect to see more and more previously unknown mining area within horizon.
3. The word 'reserve deposit' is a somewhat tricky terms, within EU border, there are in fact quite some large scale LREEs deposit, in Northern Spain and Poland and North sea as well as EEZ of Portugal but due to environmental regulation or government policy, mining in those area are either economic non viable or forbidden and therefore excluded in the data
4. Rare earth indeed provide China a leverage, but so far not a very effective one, the 2015 TWO rule out in EU, Japan favor against China limitation on element export, and lets not forget China rely 100% on ASML EUV lithography systems that is why the the embargo on China in 2019 nearly bankrupt the tech giants.
5. the Belt and road initiative has engulfed China own fiscal strength as well, their intention is to expand influence indeed but there is a reason why World Bank of the West did not invest in those developing countries either the ability to repay the investment or simply geopolitical stability, take Congo as an example, they recently revoke the copper mining right of a Chinese firm after the Chinese promise of funding on local hospital has not meet the schedule.
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