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China in response to pressure from the current US Administration recently threatened to restrict exports of rare earths. There is no doubt that we need to take seriously China's threat. But the economic risk brought about by this situation must not be exaggerated. It is true that this group of 17 minerals are used in high-tech devices, automotive, defense etc; And the glass industry is one of the largest consumers of rare earths. The global rare earth elements market is expected to reach US$ 10.96 billion by 2020 (Re.Grand View Research). It is also a fact that China has the highest reserves of rare earths in the world estimated at 44 million MT (metric tons). This country was the world's leading producer in 2018 (Re.Rare Earth Investing News). The Chinese threat to restrict exports of these products should first encourage importing countries to find alternative solutions. In those countries it means to bolster mineral exploration, consistent with environmental sustainability. And this, of course, is highly complicated. These same importing countries can become less dependent on Chinese rare earths quite simply by switching suppliers. Six other countries namely Brazil, Vietnam, Russia, India, Australia and the US have significant rare earths reserves. And the figures show that non-Chinese production in 2018 has grown to about 29% of the global output from just 3% in 2009 (Re.Crédit Suisse). In sum, this issue should not be used as a pretext to increase international tensions. What is needed is beneficial economic cooperation without political and economic blackmail.

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