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Europe is also taking steps to establish its own lithium mines and reduce its 97% reliance on China for lithium supply. The EU has also introduced stricter environmental and safety standards, leading to a 45% year-over-year drop in China's battery exports to Europe and the US.
These actions by democratic nations are fundamentally challenging China's dominance in the global lithium battery supply chain, making it increasingly difficult for Chinese companies to expand internationally.
The Reckoning of China's Economic Model