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ID:
191010
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| Summary/Abstract |
The race to rapidly decarbonise and digitalise the global economy by 2030 to avoid temperatures rising above 1.5C has been subsumed by geopolitics that remains anchored in realist power struggles, now revolving around Sino-American hyper-competition. The Russian invasion of Ukraine further undermined interdependence and prompted unprecedented levels of economic statecraft. Access to indispensable minerals for a net zero future has thus become more securitised. The European Union (EU) has pushed back against bipolar geopolitics by utilising its normative, economic and regulatory power and strong networks of global institutional relations to maintain a competitive but working relationship with the People’s Republic of China (PRC). Such an approach may help broker broader global institutional collaboration to ensure that decarbonisation is for all, not just for the few.
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| 2 |
ID:
156849
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| 3 |
ID:
176545
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| Summary/Abstract |
The decarbonisation of the global economy in response to the climate crisis and the fourth industrial revolution, featuring artificial intelligence (AI) and 5G networks (massively accelerated in response to the coronavirus pandemic), has triggered a race to secure uninterrupted access to critical raw minerals (CRMs) that are indispensable inputs for high-technology applications. Moreover, China’s Belt and Road Initiative, which unites Eurasia and Africa and loops in South America into a seamless space of trade, infrastructure and digital connectivity, challenges the dominance of traditional industrial powers (the United States, the European Union and Japan) and requires critical minerals. Rare earths, lithium and cobalt – among the most critical of the CRMs – are found in high geographic concentration, creating hotspots of contention, especially in unstable parts of the world. As economic transformations accelerate, securing access to these materials will both impact and help shape geopolitics in the years to come.
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