An explainer on Pax Silica

An explainer on Pax Silica

In today’s Finshots, we tell you how China came to dominate the global critical mineral supply chain and the US’ Pax Silica initiative that it believes can counter it.The StoryIn 1964, Chinese geologists made an interesting discovery. An iron ore mine near the city of Baotou also held the world’s largest rare-earth deposit.At the time, rare earths weren’t fashionable. Most countries ignored them. But Chinese leaders didn’t. They saw rare earths …