Funding must be found somewhere in the US as it is urgent for the US to keep ahead of China!China is reported to be cutting off rare earth supplies to the United States defence manufacturer Lockheed Martin and other American companies in retaliation for the companies supplying Taiwan with military hardware.
But this move should not be read merely as a tit-for-tat against a few particular companies.
It is, however, a clear signal to the US defence establishment that China holds the whip hand.
Rare earths are crucial in the manufacture of advanced weapon applications.
Without them, the Chinese could hobble the US military (and the forces of its allies) while itself having full operational capacity in a time of conflict.
The US gets 80% of its rare earths from China. That is the officially quoted figure but with Australia’s Lynas Corp (ASX: LYC) the only non-China supplier of any considerable substance, the percentage is probably higher.
This latest sanction move must be sending chills down backs in the Pentagon.
Further reading:
https://*********.com.au/china-sends-warning-cripple-us-defence-system-turning-off-rare-earths/
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