onsdag 24. februar 2021

Tussle over rare earth elements heating up: FT

In a move clearly meant to taunt the United States and its allies, China is looking at limiting the export of rare earth elements (REEs) that are crucial to sophisticated weaponry, according to an exclusive report in the Financial Times.

In an ominous development, industry executives said government officials had asked them how badly companies in the US and Europe, including defence contractors, would be affected if China restricted rare earth exports, FT reported. “The government wants to know if the US may have trouble making advanced F-35 fighter jets if China imposes an export ban,” a Chinese government adviser told FT in confidence.

Industry executives added that Beijing wanted to better understand how quickly the US could secure alternative sources, FT reported.