—”Magnets are made with rare earths,”
Rare earths are not actually rare!
But the green nuts have shut down most US mines.
Yes, the Chinese do most of the processing, again because of the greens; and because they wanted to learn the business.
And they learned a lot!
See:
https://www.wsj.com/articles/rare-truths-about-chinas-rare-earths-11614814070
Rare earths are not actually rare!
They are just not common.
The US mines were principally shutdown by ex-President Bill Clinton as a favor to his Chinese bankers and backers in the PLA while he was in office.
And your link is behind a pay wall.