Rare-earth elements are a key component in many high tech products like lasers, flat screens, night vision goggles, and the like. China currently produces 97% of the world's supply and has not hesitated to play games with supplying them when it is in its interest to do so. As the world moves further into the high tech era, this has given China great leverage over potential rivals. Until now.
Huge deposits of rare-earth elements have been discovered on the ocean floor. Although it will be a technological feat to commercially mine the deposits, it can be done and thus we can expect the playing field to be leveled for access to these important commodities. Political power follows economic power and thus China's hold on the 21st century becomes not quite as firm as before - a good thing for the rest of us.
news.yahoo.com/ocean-floor-muddies-chinas-grip-21st-century-gold-183205516.html
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