Rare earth elements are inside pretty much everything with an on-off switch: Phones, laptops, cars. Even missiles. And China controls the world’s supply of components made from rare earths.

David Abraham is the author of the book “The Elements of Power: Gadgets, Guns, and the Struggle for a Sustainable Future in the Rare Metal Age.” David’s problem is this: What should the US do about China's chokehold on the rare earth supply chain?

According to Abraham, the current US strategy could wind up costing billions of dollars without solving the problem. And he has a big idea for what we should do instead.

In this episode, David explains:

• How China quietly built a monopoly on rare earth materials
• Why the 2010 Japan crisis was a preview of today's trade war
• China’s export restriction strategy 
• Why the problem goes deeper than billions in spending can solve
• Why electric vehicles are the key to reinvigorating the U.S. rare earth industry

Learn more: 

• Find David at his website 
• Buy the Elements of Power
• Check out David’s article in the new Republic

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• Listen to Jacob’s other show, Business History 

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