Planet Money explores how the United States lost its dominance in the rare earths industry to China. Rare earths are crucial materials used in many high-tech products, from smartphones to electric cars. Decades ago, the U.S. was a leader in mining and processing these elements, but over time, China invested heavily in this sector, gaining control over the global supply. This shift has significant implications for technology and national security, as many industries rely on these materials. The story highlights the importance of strategic planning and investment in maintaining a competitive edge in critical industries.
QUESTION: How might the reliance on another country for essential materials impact the future of technology and innovation in the United States?
The U.S. once had a monopoly on rare earths. How it lost to China
