Ursula von der Leyen used her participation at the G7 summit in Kananaskis, Canada, to warn against a "new China shock" and denounce Beijing for perpetuating what she called a "pattern of dominance, dependency and blackmail" vis-à-vis its trading partners, in language seemingly designed to appeal to Donald Trump's agenda.
China holds a quasi-monopolistic position over so-called rare earths, the 17 metallic elements that are crucial for advanced technologies. The country commands roughly 60% of the world's supply and 90% of the processing and refining capacity.
