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"China dominates the refining and processing of critical minerals, controlling up to 90% of this stage of the midstream of the supply chain." - China Research Group
https://chinaresearchgroup.org/research/the-uk-and-china-critical-minerals
From Twitter
Jim Kennedy has good rants on this, though they tend to be light on details. He says China now has "the equivalent of five national laboratories that do nothing but rare earths." https://www.youtube.com/watch?v=dbbifeLRHIA
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If China has decided to invade Taiwan, I expect this will be one of the cornerstones of their strategy: mutually assured economic destruction. U.S. tries to intervene? China can cut off the U.S. from their supply of rare earths & other critical minerals. https://foreignpolicy.com/2022/11/22/critical-minerals-resources-us-china-competition-cold-war-supply-chains/