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As China strives to hang onto its pole position in the rare earth sector, deteriorating relations with Western countries may speed up their diversification efforts, but analysts say it may be difficult to break free of the stranglehold that China has on the supply chain for critical minerals.
This week, US Treasury Secretary Janet Yellen said that the United States wants to end its “undue dependence” on rare earths, solar panels and other key goods from China, to prevent Beijing from wielding such resources as a trade weapon by cutting off supplies, as it has done to other countries.
