Vietnam finds itself wooed by two large world powers. However, this time, it is not over any geopolitical consideration, but for a resource that the modern world covets: rare earths.
China and the U.S. are locked in a race to court a country that boasts the world’s second-largest rare earth deposits. However, much of Vietnam’s rare earths remain untapped thanks to China’s near-monopoly over global markets. With the West, led by the U.S., no longer wanting to rely on China alone for rare earths supply and processing, Vietnam continues to look like a suitable alternative.
