德媒：我不觉得中国手里有什么王牌，欧洲的稀土威胁被严重夸大了

Core Viewpoint - The article discusses the exaggerated perception of China's dominance in the rare earth market and Europe's dependency on it, suggesting that the reality is more nuanced than often portrayed [3][20]. Group 1: China's Role in Rare Earths - China accounts for over 90% of global rare earth mining and initial processing, which has significant environmental costs that are often overlooked [7][24]. - The importance of rare earths is not just in current trade figures but in the potential disruption of supply chains if access is cut off [9][26]. - Historical actions by China, such as setting export quotas in 2010, have led to increased global awareness of the value of rare earths and have strengthened China's long-term bargaining power [16][18]. Group 2: Europe's Position and Strategy - European imports of rare earths from China are minimal, totaling less than $10 million annually, while Europe exports higher-value rare earth alloys to China [5][22]. - The EU is actively working to reduce dependency on China by establishing rare earth reserves and investing in mining operations in Africa and South America, although challenges remain [22][24]. - The perception that Europe holds a technological advantage is complicated by the fact that China is integral to the assembly and production of high-tech products [11][28]. Group 3: Implications for Global Supply Chains - A disruption in rare earth supplies would not only affect China but would have widespread implications for global manufacturers, including major companies like BMW, Airbus, and Apple [13][14]. - The rare earth industry is characterized by high pollution and low profit margins, making it less appealing for Europe to develop its own mining capabilities [24][26]. - The article suggests that the narrative of "no trump card" in the rare earths debate is more about wishful thinking than an accurate assessment of the geopolitical landscape [20][24].