Analyze the dominance of China in the hi-tech industry. What scarce resource is extracted from the Earth to support this dominance?(1 point)
Responses
oil
oil
water
water
priceless gems
priceless gems
rare earth elements
rare earth elements
Rare earth elements are a group of 17 elements that are essential for the production of high-tech products such as smartphones, electric vehicles, and advanced weapons systems. China is the largest producer and exporter of rare earth elements, accounting for over 80% of global production. This dominance gives China significant leverage in the hi-tech industry, as these elements are a crucial input for many advanced technologies. By controlling the supply of rare earth elements, China can influence the global market and maintain its dominance in the hi-tech industry.