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I have called for something like this for over a decade

We would have to be cautious about it. India arguably has more to gain from an alliance. They are already at a low level of war with China. With the US as allies, India would have less incentive to keep their border skirmishes from escalating into a larger conflict and we could find ourselves committed to a fighting a war in the Himalayas.

It may seem like we have shared interests with India vs China, but India is mostly concerned about their land borders. I don’t know how much India cares about defending Taiwan or maintaining US hegemony in the west pacific.

And while China does control most of the market in rare earth metals, “rare” earth metals aren’t that rare: they are well dispersed throughout the earth. The issue is that they require extensive investments in mining infrastructure to extract and right now it‘s cheaper to just buy them from China. If China cut us off, there might be a short term shock. But someone else would eventually fill the gap.
 
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