To shield China from global volatility and pivot the Chinese economy toward greater self-reliance, Beijing is pursuing a new economic model centering on the Dual Circulation Strategy. China is making progress toward achieving some objectives of the strategy, but major challenges loom.
China has established itself as the dominant global supplier of rare earths, a group of 17 minerals that are crucial to countless advanced technologies. China’s capacity to disrupt global rare earth supply chains has raised alarm bells in several major countries, but Beijing’s influence within the industry is likely to be eroded in the coming years.
