Move to secure a rare resource

Incentivising production of rare earth permanent magnets is an economic necessity and a strategic choice

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I n an ideal world, a country need not manufacture everything at home. It need not even manufacture everything it needs to make things it wants to export to the outside world.

But we do not live in an ideal world anymore. It is a world where the largest economy, the US, is on a tariff rampage, and the second-largest economy, China has tried to counteract some of this by holding back what is arguably the most critical component in modern manufacturing: Rare earth minerals.