For some context, Japan and China has had a long-standing dispute in this space. China has been using it as a leverage tool amid territorial disputes since 2010 when they imposed an embargo on rare earth exports to Japan. Since then, Japan has taken steps to reduce its reliance on rare earth supplies from China and they have brought it down from 90% before to ~60% as of 2023. But that figure still continues to show how China is the number one player in the space and it is tough even for the likes of the US and Europe to break away from Beijing's shackles.
This article was written by Justin Low at www.forexlive.com. Read More Details
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