The global rare earth squeeze is primarily a result of China's growing domestic demand. Having vertically integrated from a raw exporter to the world's top refiner and consumer, China now absorbs its own supply for EVs, wind, and tech. The West faces a bifurcated market, severe supply deficits, and a decades-long race to rebuild lost industrial capacity.
https://dialecticaldispatches.substack.com/p/the-bifurcated-market