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The biggest crime is that we ship metallurgical grade coal to China by the freighterload and then buy the steel back from China. Except for regulatory compliance, surely it would be cheaper to use the coal here, and produce the steel hear saving two trans-pacific shipping costs.
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What was the country a few years ago that was trying to corner the ‘rare earth’ elements?
The Rare-Earth Crisis
https://www.technologyreview.com/s/423730/the-rare-earth-crisis/
The issue about “rare earths”? Extraction and refining.
They are largely common, but in very small concentrations. There are hazards to mining and extracting some types.
The demand is driven by growing production of wind turbine motors and electric cars.
China has the manufacturing edge right now.