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  China controls the rare earths the world buys - can Trump's new deals change that? US President Donald Trump has signed a flurry of deals on his Asia visit to secure the supply of rare earths, a critical sector that China has long dominated. The deals with Japan, Malaysia, Thailand, Vietnam and Cambodia differ in size and substance and it's too early to assess their tangible impact. But they all include efforts to diversify access to the minerals that have become essential for advanced manufacturing, from electric vehicles to smartphones. The agreements, which aim to lock partners into trading with the US, are a clear bid to reduce dependence on China, ahead of a key meeting with its leader Xi Jinping. They could eventually challenge Beijing's stranglehold over rare earths, but experts say it will be a costly process that will take years. "Building new mines, refining facilities, and processing plants in regions such as Australia, the United States, and Europe comes ...
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Labubu firm sees profit soaring by at least 350%


Pop Mart, which has a stock market value of more than $40bn (£31.6bn), also said profitability had been boosted by increased recognition of the brand globally and cost controls.

Collectors have been obsessed with the viral Labubu dolls - fictional elf-like creatures with a row of jagged teeth - which have flown off shelves and sparked long queues in shops worldwide.

Pop Mart is best known for selling toys in "blind boxes" - a type of packaging that hides its contents until it is opened. The marketing tactic has faced criticism for encouraging gambling-like behaviour and compulsive buying.

Launched in 2019, Labubu dolls have helped the company become a major retailer, operating more than 2,000 vending machines and stores around the world.

Pop Mart began selling its shares on the Hong Kong Stock Exchange in 2020. The company's stock market valuation has jumped by almost 600% in the last year.

Sales from outside mainland China contributed to nearly 40% of its total revenue in 2024.

The company has huge potential in the US where it operates about 40 shops compared to around 400 in China, he added.

The buying frenzy has created a booming resale market where the dolls, originally sold at around $10, can fetch up to hundreds of dollars.

In June, a human-sized Labubu sold for $150,000 at an auction in Beijing.

Labubu's popularity has also fuelled a boom in counterfeits, often referred to as Lafufu dolls.

Chinese authorities seized more than 46,000 fake Labubu toys in June, as they crack down on a growing black market for the dolls.

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