Global Scramble over Rare Earths Amid China's Controversial Export Controls

China's recent imposition of stricter controls on rare earth exports has sent ripples across the globe as many nations rush to secure their stocks of these essential minerals. Analysts are skeptical about China's ability to effectively enforce the monopolistic grip it holds over the supply and refining capacity of rare earth elements amidst an escalating trade feud with the US. Last week, Beijing announced an extensive expansion of its export control regulations specifically targeting rare earth elements crucial for the production of high-tech products. This move was justified by China's Ministry of Commerce as a countermeasure in response to the…