EU Doubly Dependent on US and China for Critical Raw Materials: ‘US Is Much, Much Further Ahead’
3 Articles
3 Articles
Europe is investing billions to defend itself against Russia, but this could fail due to the lack of critical raw materials, which are still largely coming from China.
Europe's effort to reduce Beijing's monopoly on materials that Europeans need to re-arm themselves has met an unexpected obstacle: the great purchasing power of the United States. Washington's global campaign to acquire the critical minerals needed for the production of military aircraft, tanks and ammunition risks fuelling Europe's dependence on China, at a time when it needs these resources to deal with Russia's threats, reports Wall Street Jo…
Brussels' attempts to reduce its dependence on critical Chinese raw materials needed for defense spending run into a larger problem, according to an analysis by The Wall Street Journal (WSJ): the massive investments of the US. According to the newspaper, Europe will ultimately draw the short straw and become dependent on both China and the United States.
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