EU Unveils Plan to Reduce China's Raw Material Dependence

The European Union is taking steps to reduce its dependence on China for critical raw materials, aiming to boost industrial self-sufficiency and secure supply chains. This move comes as Europe faces global competition and increased vulnerability due to its reliance on other countries for security and essential resources. The EUs new Economic Security Doctrine, set to be revealed, will include a plan called ResourceEU, focusing on producing rare earths, gallium, germanium, and lithium. The EU is also exploring financial support from the European Investment Bank and the Global Gateway plan, and is looking into recycling as a key strategy.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.