Rare earth elements (REE) are a group of 17 elements (15 lanthanides plus scandium and yttrium. They are essential for the production of high tech devices such as cellular telephones, computer hard drives, electric and hybrid vehicles, and flat-screen monitors and televisions. Also, they are necessary for guidance systems, lasers, and radar and sonar systems.

In 1993, China accounted for 38% of world production of REEs, the United States produced 33% of them. However, in 2008, China accounted for more than 90% of the world production of REEs, and by 2011, China produced 97% of the whole world production.

The government of China limits the export of REE's. It also limits foreign intervention in the production and export of REE's

Reference

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.