Argus spot prices for the rare earth compound dysprosium oxide are currently ten times higher in the US than in China. Such a gap reflects a world where geopolitics is increasingly shaping commodity markets. But as broadcaster and author Ed Conway argues, the weaponisation of trade, for critical minerals and beyond, is as old as trade itself.In this episode, Ed joins Argus battery materials reporter Chris Welch to discuss his new book, Trade World: The Ties That Bound Our Past and Could Unravel Our Future, exploring whether the global trade is unravelling after all and whether Europe and the US can rebuild their critical minerals industries once again.Key topics include:Why China's rare earth export controls are not newCan Western carmakers build knowledge in partnerships with China?Why pricing power has shifted from carmakers to their suppliersHow BYD resembles Henry Ford's vision for carsThe impact of declining standardisation of traded goods on pricing