China is eyeing a treasure in Myanmar that may make it 'Global leader' in..., India can also...
China's rising dependence on Myanmar: Behind the massive growth in China's industrial sector, more specifically in the electronics and communication technology in the last few decades, rare heavy metals have played a very critical role. Although China is the world's top producer of rare earths, it still continues to import massive quantities of rare earth minerals from various countries across the world and one of its biggest import source is Myanmar. Here are all the details you need to know about China's rising dependence on Myanmar. China's rising dependence on Myanmar
As per a report by CNBC, Myanmar accounted for about 57% of China's total rare earth imports last year and Beijing has been stepping up controls on rare earth exports in the country.
'Myanmar's production has significantly strengthened China's dominant position, effectively giving Beijing a de facto monopoly over the global heavy rare earths supply chain — and much of the leverage it wields today', Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies, was quoted as saying in a report carried by CNBC.
'This dynamic has given rise to a supply chain in which extraction is concentrated in Myanmar, while downstream processing and value addition are predominantly carried out in China,' Baskaran added.
'If Myanmar were to cease all exports of rare earth feed stocks to China, China would struggle to meet its demand for heavy rare earths in the short term,' said Project Blue's Merriman.
India can also take several actions and be a superpower in the critical mineral resources industry. Myanmar military government helping China?
The CNBC report also quotes the Chinese Customs data as saying that Myanmar's rare earth exports to China significantly picked up in 2018 and reached a peak of nearly 42,000 metric tons by 2023, indicating a massive rise in imports after the military coup in Myanmar.
As a result of the China's massive mineral 'invasion' into Myanmar, there have also been several protests against China and the Military junta.
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