A rare earth crisis? Don’t lose sleep just yet—what’s coming will make that look like a kindergarten squabble. The global economy is barreling toward a grand-scale recession, not everywhere, but in enough key places to shake the whole system—Europe in particular is ripe for collapse. And when those major markets lose their weight, China’s export machine will sputter hard, because this time around, globalization itself is the real collateral damage. Once the financial bubbles pop, demand for everything—especially high-tech toys—will nosedive, and with it, rare earth consumption. Suddenly, the so-called scarcity vanishes. Rare earths will be abundant again, because no one’s buying. And those who truly need them? They’ll have their pick.
