China is implementing controls on rare earths, crucial for technology, resembling chip export restrictions, which could be addressed by building more supply chains, but challenges remain. The situation highlights the complex US-China dynamics in high-tech materials and manufacturing.
US Treasury Secretary Janet Yellen is set to visit China in an effort to improve communication between the two countries, but tensions remain high. Contentious issues include technology and trade controls, deteriorating business environments, currency manipulation, global debt, and human rights and national security concerns. The Biden administration's restrictions on Chinese access to critical technology and investment, as well as the ongoing tariffs imposed by the Trump administration, continue to strain relations. Yellen's visit is not expected to yield major breakthroughs, but rather aims to ease tensions and foster dialogue between the world's two largest economies.