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Global Supply-Chain Chokepoints

Resilience is easy to claim. This is where the world economy actually has none.

Strip the supply chain down to its true single points of failure and a short list is left. Rare earths and magnets: China. EUV lithography: ASML, the Netherlands. Photoresist and wafers: Japan. High-purity quartz: the United States. Neon: Ukraine.

For each one the index scores how dependent the US, EU, China, Japan, Korea and the world are, so you can see who holds leverage over whom. Some dependencies are mutual. Many are not. The dangerous ones are the inputs where a single export decision idles factories on the other side of the planet within weeks.

This is where economic and political power actually concentrate in the physical economy. Almost always a few steps upstream of where the attention goes.

Companies & entities in this map

Heavy rare-earth separation (Dy/Tb), CN, China state / JL MAG, Gallium & germanium, China state, Battery-grade graphite (anode), China, Antimony, Tungsten, Lithium refining, Ganfeng / Tianqi, Cobalt refining, CMOC / Huayou, Solar wafers & cells, LONGi / Tongwei, EUV lithography machines, NL, ASML, Advanced logic fabs (≤5nm), TW, TSMC, HBM / advanced memory, KR, SK Hynix / Samsung, Silicon wafers & photoresist, JP, Shin-Etsu / JSR, Neon gas (lithography), RU, Ukraine/Russia, Uranium enrichment, Rosatom, Phosphate rock, MA, OCP (state), Potash, CA, Nutrien, Crude oil via Strait of Hormuz, Gulf, OPEC Gulf, LNG (marginal supply), US, Cheniere / Qatar, Large power transformers, HD Hyundai / Hyosung, HVDC & subsea cable, EU, Hitachi Energy / Prysmian, Pharma APIs & generics, China + India, Commercial shipbuilding, China + Korea, Refining (product exports), IN, Reliance Jamnagar

Muad'Dib Capital, the Atlas of the Physical Economy. For information only — not investment advice. Company lists are representative selections curated from public sources.

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CHOKEPOINT INDEX › WHO DEPENDS ON WHOM

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