china's problems are much bigger than the west supposedly throttling them - aqing pop'n, countries realising their dependance on China for critical goods in supply chains and therefore repatriating some of that back to their country or region, geopolitics generally, etc. There are many factors, some easier to deal with than others.
There are many more applications for Li than EVs as well.
Demand for Li will grow over time as some of the supply chain issues are dealt with.
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