Rare Earth Elements: A New Medium for Global Power Competition

Rare earth elements have become a central pillar of global technological competition and economic security, driven by their critical role in clean energy systems, semiconductors, electric vehicles, and defense technologies. As supply chains remain highly concentrated in a small number of countries, particularly in processing and refining capacity, rare earths have increasingly turned into strategic assets within broader geopolitical and industrial policy rivalries. Recent developments, including export controls, resource nationalism, and state-led efforts to secure access to critical elements, highlight how these elements are now embedded in the logic of economic statecraft and technological sovereignty.

This session examines the geopolitical and economic implications of rare earth dependency in an era of intensifying strategic competition. The discussion will explore how supply chain concentration shapes global power asymmetries, how states use critical elements as instruments of leverage and resilience, and how ongoing diversification efforts, recycling initiatives, and alternative sourcing strategies may reshape future industrial and security architectures. It will further assess whether rare earths represent a temporary vulnerability in global supply chains or a structural feature of the emerging geopolitical economy.

Discussion Themes:

1. How has the growing concentration of rare earth extraction and, more critically, processing capacity influenced global technological competition, industrial policy, and economic security strategies?
2. In what ways have rare earth elements become embedded in broader geopolitical competition, including the use of export controls, resource nationalism, and supply chain weaponization?
3. How are states and industries responding to critical element dependency through diversification strategies, including alternative sourcing, recycling technologies, stockpiling, and element substitution?
4. What does the structure of current rare earth supply chains reveal about long-term shifts in global economic governance and the balance between market forces and state integration?