On Dec. 3, China banned exporting critical minerals such as gallium, germanium, and antimony to the United States. This came in the wake of the Biden administration’s announcement of new restrictions on the sale of chips and specialized chip-making machinery and software to China the day before. This exchange is merely the latest round in the ongoing battle for the raw materials that control the future of energy and tech. China and the U.S. are in a wrestling match over mineral dominance that is more critical than the 20th-century struggle for the control of oil.
After the U.S. imposed its new restrictions, the Chinese foreign ministry characterized the measure as a “malicious suppression of China’s technological progress.” Beijing also cited national security concerns as the reason for its subsequent export ban of critical minerals and limitations on the export of graphite. This echoes American statements, which similarly cited national security concerns.
It is easy to see why. Rare …