The Pentagon is racing to rebuild munitions stocks, which have been drained to feed wars in Ukraine, Iran, Gaza, and Lebanon.

The War Department is seeking a record $1.5 trillion budget, and new weapons suppliers recruited from the civilian sector.

The Pentagon’s strategy is to attract smaller companies to build for the defense industry, by offering longer-term contracts, with guaranteed high volumes of orders.

China’s dominance of the rare earth supply chains mean that the problem is not merely a ack of manufacturing, but also of mining and refining.

Vast reserves of raw materials reserves are found outside China, but those are typically found in countries closely allied with the Chinese, instead of with Washington.