The EU and US Make a Bid for the World's Critical Raw Materials ...

Last week, the President of the European Commission announced plans for a "Critical Raw Materials club" to secure access to vital resources. The EU and the United States are attempting to create a new bloc to trade with resource-rich countries in South America and Central Africa. However, China currently dominates the global supply chain of critical raw materials, processing around 60% worldwide, leading to concerns about the effectiveness of this new alliance. China's approach has focused on direct investment without strict environmental and social requirements.

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