Summary
- When China restricted exports of gallium and germanium in 2023, markets were reminded that supply chains can be disrupted.
- Investors are again turning to supply chain resilience as a portfolio concern. Rare earth elements sit in the same category as gallium and germanium.
- Looking at recent episodes of stress and transition highlights how rare earths can function as a hedge when traditional portfolios stumble.
Antoine2K/iStock via Getty Images
By Yi Guan, CFA
When China restricted exports of gallium and germanium in 2023, markets were reminded that supply chains can be disrupted. These metals may not be household names, but they are critical to semiconductors, defense systems, and renewable
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