Part 3/7:
The landscape of rare Earth production shifted dramatically in the 1980s and 90s when China identified this sector as a cost-effective opportunity due to its previously lacking industrial technology. By pouring resources into the construction of large acid processing facilities, China managed to dominate the rare Earth market, producing between 50% to 95% of the world’s refined rare Earth metals. China's ability to provide low-cost rare Earths was bolstered by subsidies and a state-controlled economic model that prioritized high throughput over efficiency.