Earlier this month, China’s spy agency, the Ministry of State Security, claimed that foreign institutions were targeting the country’s rare earth and food industry to steal patented technology and state secrets.The allegations were publicized by state broadcaster CCTV during its Sunday programing, highlighting two different cases where accused individuals each received 11-year sentences for sharing rare earth information with “overseas forces”, including a Shanghai-based subsidiary of a foreign company.
Adamas take: The importance of developing processing and magnet manufacturing capabilities independent of China cannot be understated as the nation aggressively cracks down on technology exports.
Pressure on what we have and can produce will only increase. China has already weaponized these materials when it came to a dispute with Japan. Time and patience is needed. gltah...
ASM Price at posting:
$1.13 Sentiment: Buy Disclosure: Held
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