China has just shot its rare earths industry stone dead. Yes, yes, I know, everyone is convinced of the opposite — they have us over the barrel and they are not preparing to use any lube this time. But my view is the correct one and not just because it’s mine. That intense rogering China is trying to give to the Western industrial world is precisely why that hold they have will be broken — why their rare earths industry is in for a whole world of pain.
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