China plans to ban exports of rare earth magnet tech
"China is estimated to hold an about 84% share of the global market in neodymium magnets and an over 90% interest in samarium cobalt magnets. Japan, meanwhile, has about 15% of the neodymium magnet market and a less-than-10% share of that for samarium cobalt.If China bans the export of such technologies, it would be difficult for the United States and Europe, which do not traditionally manufacture rare earth magnets, to newly enter the market, thus making those countries totally dependent on China, according to a European source.Beijing has been investing in facilities to manufacture magnets at low cost through large-scale production, which could lead to Japan losing its market share in the future.The draft revision says the export ban and restrictions are aimed at protecting “national security” and are in the “public interest of society.” Chinese President Xi Jinping’s administration has positioned magnets as a key factor in China’s economic growth and security."This is not normal decoupling, we're in a full on economic war.