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How Interdependent Are We?
In the research we talk about no region being self-sufficient, how interdependent would you say that we are at this stage? So the top line, give you a number, is that every region in the world depends on another significant region for at least 25% of one of the flows that matters most to it. China imports over 25% of its minerals and it goes to places as far along as Australia,. but also Brazil, from Chile, from South Africa. If you look at Asia Pacific, really much the same thing. North America and the US somewhat have a different story. We don't have any single spot of quite as great a dependency, at least at the broad category level