Paper: GS – II, Subject: International Relations, Topic: Regional and global Grouping, Issue: Quad Critical Minerals Initiative.
Context:
The Quad, consisting of India, Australia, Japan, and the United States, has launched an initiative aimed at securing the supply chains of critical minerals.
Key Takeaways:
- This move comes amid growing concerns about China’s dominance in the production and processing of these resources, which are essential for various new technologies.
- In a joint statement, the Quad members expressed “deep concern” regarding the “abrupt constriction and future reliability of key supply chains, specifically for critical minerals.”
- They directly referenced China, stating that “reliance on any one country for processing and refining critical minerals and derivative goods production exposes our industries to economic coercion, price manipulation, and supply chain disruptions, which further harms our economic and national security.”
- Critical minerals, including rare earth elements (REEs), are crucial components in a wide range of advanced technologies, from semiconductors and electric vehicles (EVs) to jet fighters.
- Rare earth magnets, particularly neodymium-iron-boron (NdFeB) magnets, are vital for EV manufacturing, especially in electric motors.
- These magnets provide the strong magnetic fields necessary for efficient and powerful electric motors, including traction motors that drive EVs.
- They also play a significant role in other EV components, such as power steering systems, wiper motors, and braking systems.
- China currently holds a near-monopoly over the production of these rare earth magnets.
Quad Critical Minerals Initiative and India’s Strategic Response:
Conclusion:
- The QUAD group’s focus on critical minerals represents a crucial strategic initiative to enhance national security and economic resilience amid global supply chain vulnerabilities.
- With countries striving towards sustainability and energy independence, the cooperation among Quad members and partnerships like the MSP become increasingly significant in the geopolitical landscape.
- The initiatives not only address immediate economic concerns but also set the foundation for future advancements in technology and energy transitions.
https://indianexpress.com/article/business/quad-supply-chains-critical-minerals-china-10103507
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