Oct 17, 2025 – 11.22am
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The trade war between the United States and China has flared up again, this time over the minerals and machinery that power the modern world. And this time China appears to have the upper hand.
After years of heavy state investment, Beijing dominates the three technologies that turn electricity into motion: batteries, motors, and power electronics (or circuit boards). It also dominates supply of rare earth minerals for those technologies.
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