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King: China’s rare earths monopoly controls our destiny Llewellyn King © Provided by Boston Herald APRIL 5, 2021 - A photo taken on August 20, 2012 shows a general view of a rare earth refinery north of the inner Mongolian city of Baotou. Getty Images A world commodities rebalancing is underway, and China is in a position of dominance. Take lithium, where China is a major processor and battery manufacturer; cobalt, where China has dominated the supply chains; and rare earths, where China has an almost total monopoly. Taken together, these three commodities are key to the future of alternative energy, electric vehicles, mobile phones and even headphones.

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