00:00So, Doctor, you mentioned there is a big rivalry between the U.S. and China, almost like the Cold War in many respects.
00:08But it's quite interesting that they've reached a framework.
00:12And even though they've done this, the Treasury Secretary, Scott Besson, says China still hasn't brought the pace of rare earth magnet exports back up to the level that they were meant to be, the level we saw in April.
00:27So, if that doesn't happen, what does it mean for the confirmation of the Geneva agreement, which we saw both sides obviously sign?
00:39I think what's going on right now, it's this arm wrestling, trying to get each one what they want from the other.
00:46The rare earth is very important for the U.S. 70% depends on China from that.
00:52China knows, it controls 90% of the rare earth globally, so it's trying to use that card.
00:59Nonetheless, there is a lot of issues, you know, for national security, for the economic race, especially in the supercomputing system.
01:07And when we are talking about AI supercomputing right now, we know that the U.S. is building its target, $500 billion U.S. dollars, plus the $200 billion in Pentagon contracts for the AI defense.
01:21That's actually creating a lot of intensity and the competitiveness in this role.
01:28It's, you know, spreading all beyond the tariffs.
01:31So, there is a kind of package I think they're working on that.
01:34And also looking at the decoupling, we know recently that actually 30% of U.S. companies are being delocating from China to Vietnam and India.
