Japan surrendered unconditionally to China in the past day, effectively ceding all claims to the South China Sea and likely anything else that China wants. You can expect China to get its way anywhere in the world on every issue that it sees as important and it doesn’t matter how many aircraft carrier battle groups the US has, China still has the upper hand.
Everyone of the things that make our lives different from the Amish require a variety of these elements and all those new green technologies require them in large amounts. China’s action has set off a sort of gold rush with companies that produce or might someday produce rare earths having their stock go through the roof. I wouldn’t rush out and buy any stock however with a minimum of 15 years lead time required to develop a new supply line as extracting these elements is a very involved series of processes.
There is believed to be little chance this bill will get to a vote in the Senate with the Republicans and a number of Democrats who put their personal fortunes above the national security of the United States (oath be damned).
In fact, thanks to the Supreme Court that the President rightfully chided in his State of the Union report, the Chinese can buy as many Senators and Congressmen as they need to see to it that everything goes their way.
Hundreds of millions are being dumped into the elections by corporations with complete anonymity. The biggest corporations are Chinese or beholding to them. Where do you think the tea baggers are getting their “grass roots” support?