Positive and Negative Impacts of a Possible Chinese Export...

Positive and Negative Impacts of a Possible Chinese Export BanEstimates indicate that China's plan for the export ban could be completed by the end of 2023. According to the U.S. Geological Survey, China produces slightly over two-thirdlinks of the world's rare earth metals. It also has twice as many mine reserves as the next closest country. And since China supplies 80% of the rare earths imported by the U.S., the ban may be detrimental to some American-based businesses.Despite these negative implications, some interpret the move as a blessing in disguise. After all, the world continues to look for alternatives to Chinese rare earth supplies to reduce dependence on the Asian nation. If China were to push through the ban, the world would have no choice but to seek out new sources and trade partnerships.

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