G-7 Set to Discuss Joint Response to China Curbs on Rare Earths
The G-7 finance ministers are set to discuss a joint response to China's planned move to tighten control over the global supply of rare earth minerals. Rare earth elements are critical for the production of various high-tech products, including smartphones, electric vehicles, and military equipment. Officials have expressed concerns that China's actions could disrupt the global supply chain and give Beijing leverage over other countries. The G-7 nations are expected to explore options to reduce their dependence on China for these crucial materials and develop alternative sources. The discussions aim to find a coordinated approach to address the potential economic and geopolitical implications of China's rare earth dominance. The outcome of these talks could have significant implications for the future of the global high-tech industry and the balance of power among major economies.
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