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After more than a year of renting 15 hectares of warehouse space near Ho Chi Minh City to test Vietnam as a major export hub, fast-fashion giant Shein has reportedly shifted its focus back to China due to lackluster outcomes. The decision highlights Vietnam's challenges in building a complete supply ecosystem for ultra-fast fashion, despite its labor cost and geographic advantages.
The US Department of Defense has committed a conditional $400 million loan to Sunrise Energy Metals to build the world's first primary scandium mine in Australia. This move aims to reduce reliance on Chinese supplies amid export restrictions on critical minerals for defense.
A recent survey shows about 80% of Japanese manufacturers view rare earth procurement as an urgent challenge or severe operational risk, amid China's tightening export controls on minerals essential for high-tech products. The findings highlight growing concerns over supply chain vulnerabilities and are prompting firms to diversify sources and invest in recycling and alternatives.
Bank of Japan Governor Kazuo Ueda said the central bank will closely watch the impact of the Kumamoto earthquake on domestic production and corporate supply chains. He highlighted the need to assess the disaster's effects on the regional and national economy.
The Bank of Japan (BOJ) has assessed that the ongoing conflict in the Middle East will exert pressure on the nation's economy, but rising demand in the artificial intelligence (AI) sector could support growth.
The G7 has agreed to reduce reliance on any single rare earth supplier to below 60% by 2030 to diversify supply chains and counter geopolitical risks. China currently dominates refining, providing over 80% of global supply. The plan involves cooperation with resource-rich countries, investment in domestic processing, and new mining projects.
G7 leaders have committed to diversifying global critical mineral supply chains to reduce dependence on a few countries. The joint statement released June 16 stresses building transparent, sustainable and reliable supply chains. The group also vowed to boost investment in domestic mining and processing and to support fair participation by developing countries.
The G7 has agreed to reduce dependence on a single supplier for critical minerals, aiming to enhance economic security and mitigate geopolitical risks. The deal focuses on diversifying sources of lithium, cobalt, nickel, and rare earths, key materials for green technologies.
The G7 has officially committed to a coordinated response against economic coercion, particularly in the strategic minerals sector. The agreement aims to protect supply chains for minerals essential to batteries, semiconductors, and green technology amid rising global competition. The statement remains a political pledge without detailed measures.
