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U.S. and European leaders often talk about the importance of building China-free supply chains for transition minerals and other critical resources. While, for a lot of people, that may resonate among their constituents at home, the reality is that it’s not even remotely possible — at least for the foreseeable future.China has spent the better part of two decades building an insurmountable lead in financing, extracting, and processing these resources. Using a combination of state-backed companies and foreign financial institutions, the Chinese are the pacesetters in this industry, with their rivals left far behind.A first-of-its-kind report from the development research lab AidData at William & Mary College in the United States reveals the stunning breadth of China’s global mining strategy that spans 19 countries around the world. Two of the report’s authors, Brooke Escobar and Katherine Walsh, both from AidData’s Chinese Development Finance Program, join Eric & Cobus to explain why China is now so far ahead of its competitors in this critical competition.
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