People often forget that rare earth business relies on cutting-edge technologies for extraction and processing. It's not as labor-centered as someone may think, but tech-centered.
Rare earth business also requires stable and secure supply chains, strategic planning, establishing new supply chains, reliable #power resources and integration with global supply chains.
#Europe lacks some of these, but it can and should continue investing in building its capacity. #China has strong position in rare earth elements #business because of having all of these.
However, forced #technology transfers are not the answer as turbulent trade relations have negative impact on supply chains and economy. European companies need to improve their own technologies and the #EU should boldly invest in European technologies. The EU should show that the European economy is built on the European spirit of #innovation and entrepreneurship, bold and original ideas.
#rareearths #rereearthelements #supplychains #economy #tech