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China dominates the global rare earth market, controlling 70% of production, 85% of refining, and 98% of processing capacities, with reserves totaling 44 million metric tons. A RAND Corporation study warns that a 90-day disruption in supplies could halt production for 78% of US defense contractors, as the US faces significant challenges in establishing a self-sufficient supply chain, which could take over a decade and $10-$15 billion to achieve. China's strategic investment in its rare earth industry further solidifies its critical role in global tech and defense sectors.