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Planet Money · April 24, 2026 · 34m

Battlefield rare earths: How the U.S. lost to China

Show Notes

Rare earth elements are essential for everything from smartphones to electric vehicles, and they’ve become a geopolitical weapon. Planet Money traces the story through a single U.S. company that once monopolized the industry, then lost its grip when China took over mining and processing. The episode unpacks how America’s rare earth industry rose and fell, and why that matters for national security and the global economy.

This summary was generated from show notes and public descriptions, not from a full transcript review. Details may contain inaccuracies.

Highlights

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A single U.S. company once dominated rare earths
At one point, one American company monopolized the rare earths industry, controlling everything from mining to processing.
ClaudeChatGPTGemini
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China now controls rare earths and uses them as a political weapon
China dominates rare earth mining and processing, giving it leverage to restrict supply and exert geopolitical pressure.
ClaudeChatGPTGemini
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Rare earths are essential to modern life
Rare earth elements are critical for smartphones, electric vehicles, microwaves, and countless other technologies.
ClaudeChatGPTGemini

Editorial

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The story is told as a corporate saga
The episode frames the rise and fall of America’s rare earth industry through the lens of one company’s dramatic story.
ClaudeChatGPTGemini
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