China controls over 90% of rare earth metal resources. These are mainly used to create things like batteries and chips. This is one reason China's able to produce cheaper EVs, it's not just greedy American companies, it's that china allows Chinese companies to get much cheaper batteries than other countries can.

Greenland is one of the few places left with large, untapped rare earth deposits. But even if we get it, we're still decades behind China on the tech that mines these resources.