economy
February 16, 2026
The US is merely the latest to join the global rush to hoard critical minerals
JD Vance is seeking to create a ‘trading bloc’ as shortages and climate crises mean a kaleidoscope of rare earths are increasingly jealously guarded
TL;DR
- The era of mass abundance through free trade is over, replaced by strategic competition for scarce resources.
- Surging global electricity demand, driven by transport electrification and AI data centers, is a key factor.
- Climate change, increasing demand for cooling, also strains electricity systems and influences resource needs.
- Critical minerals like lithium, copper, and rare earths are essential for the energy transition but have limited and guarded supplies.
- China dominates many critical mineral supply chains, prompting other nations like the US, Japan, South Korea, and the EU to build strategic reserves and create trading blocs.
- Natural disasters and climate impacts pose increasing risks to resource extraction and supply chains.
- The global economy is entering a phase characterized by resource constraints and state-level competition for essential materials.
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