The Quad, consisting of India, Japan, the USA, and Australia, has initiated the 'Quad Critical Minerals Initiative' to address vulnerabilities in critical mineral supply chains. The statement underscores concerns over reliance on non-market practices and potential disruptions caused by dependence on a single country, primarily China, which dominates critical mineral processing. The initiative aims to enhance cooperation among the four nations to secure diversified and reliable supply chains, essential for the production of electronics and batteries, thereby protecting economic and national security.
The Quad nations are concerned about key supply chains for critical minerals, which are essential for electronics and batteries, and can affect economic security.
The Quad's joint statement emphasizes a need for diversified supply chains to prevent reliance on a single country, specifically referring to China.
Reliance on one country for critical minerals poses risks of economic coercion, price manipulation, and disruptions that can harm both economic and national security.
The Quad Critical Minerals Initiative represents a response to vulnerabilities in global supply chains and aims to strengthen cooperation among member nations.
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