Economy and macroUpdated November 9
Europe seeks a local rare-earth supply chain.
That $1.5 trillion is a possible cost, not a loss Europe has already taken. Sky News Arabia, citing Bloomberg News, says rare-earth supply disruptions could cause economic losses of up to that amount. The figure hangs over Europe’s effort to build a local supply chain and reduce its dependence on China. Sky says China dominates a large share of rare-earth production and processing, while Bloomberg reports that the EU is trying to cut its heavy reliance on Chinese imports. The local push is meant to lower the risk before a break in supply turns into the kind of damage the report warns about.
2 publishers2 reports
Coverage started November 9
Key Actors
- European Union