Tariffs, magnets, and malware collided this week—and the shockwaves tell a bigger story about where power lives in the global economy. We unpack how China’s sweeping rare earth export controls—and its command of magnet manufacturing—turn a handful of elements into leverage over EVs, wind turbines, smartphones, and defense systems. When the U.S. answers with 100% tariffs, markets flinch, currencies wobble, and procurement teams scramble to trace origin, redesign parts, and qualify new supplier...
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