“There is NOTHING we need from Red China that we cannot produce ourselves.”
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Actually, there is. Rare earth minerals are not found in abundance in the U.S. No rare earth, no super-magnets, leds, oled TVs.
https://en.wikipedia.org/wiki/Mountain_Pass_rare_earth_mine
http://www.mining.com/canada-identifies-top-rare-earth-projects-48319/