Japan's Resilient Supply Chain Strategy

This is a Japan news story, published by CNBC, that relates primarily to Ivan Espinosa news.

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Chinese rare earth imports

CNBC

•

Technology

Japan is better prepared than the West for China's rare-earth mineral squeeze

Summary

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84% Informative

Japan changed its approach to supply chain resiliency after becoming a canary in the coalmine for China 's mineral dominance.

Alongside stockpiling, recycling and promoting alternative technologies, Japan has since invested heavily into non-China rare-earth projects.

Japan 's overall dependence on Chinese rare earths has dropped to below 60% from more than 90% at the time of the incident.

China imposed an export ban on several rare earth elements and magnets widely used in the automotive, robotics and defense sectors.

Europe 's domestic production of rare earths is limited and relies heavily on imports from China .

Nissan CEO Ivan Espinosa : "We need to continue finding alternatives for the future, keeping flexibility and keeping our options open" The U.S. and European Union will need to work together to create a market for non-Chinese rare Earths .

VR Score

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formal

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English

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not offensive

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not hateful