How come China controls majority of the global rare earths market? (87% according to IEA)

Question

Not sure if there is an updated number, but clearly this has some geopolitical implications if many countries are relying on these to make wind turbines and electric vehicles. How come other rich countries can’t match it?

In: 8

Answer 1

Because California, for example, is too prissy to dirty their own soil mining any of their mineral deposits. They (we) would rather pretend to moral superiority while buying from environmental terrorist states like PRC.