Peng Huagang, secretary general of China’ State-owned Assets Supervision and Administration Commission, confirmed last month that the Chinese Communist Party (CCP) will “promote the restructuring of rare earths to create a world-class company.” While it remains unclear what this “restructuring” entails, Peng’s declaration indicates the CCP will not stand by as the United States and its allies seek to diminish their reliance on China for rare earth elements.
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