UnHerd with Freddie Sayers Helen Thompson: Rare earths - the next war?
Jul 17, 2025
Helen Thompson, a Cambridge University Professor of Political Economy and author of "Disorder: Hard Times in the 21st Century," discusses the geopolitics of rare earth elements. She reveals how China's dominance poses a threat to the West, impacting everything from electric vehicles to military tech. The conversation touches on the strategic importance of rare earths, the complexities of U.S.-China relations, and the potential for future conflicts over resources, including the intriguing possibility of lunar mining. Thompson highlights the looming crisis if the West can't break free from dependence on China.
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China's Rare Earth Monopoly
- China dominates 70% of rare earth mining and 90% of processing globally, creating a near monopoly.
- The US is years behind in scaling its rare earth processing and magnet production capabilities.
Rare Earths Add to Oil Geopolitics
- Rare earths add complexity to oil-driven geopolitics without replacing it.
- The US offshored rare earth mining to China, causing critical vulnerabilities when geopolitical risks surfaced.
China's Leverage in Rare Earths Crisis
- China has the power to induce a global rare earths crisis, having used embargoes as leverage before.
- However, China has only partially used its embargo potential; more restrictions are possible in future conflicts.
