B
oth enduring continuities and significant shifts define the functioning of the global economy. While the North-South divide in per capita income and resource utilisation remains an enduring feature, new technologies such as semiconductors and Artificial Intelligence (AI) are gaining greater salience in powering the global economy. These technologies will have a significant impact on the everyday lives of many people around the world. Consequently, there is now a growing urgency to secure the supply of Rare Earth Elements (REEs) and to nurture manufacturing processes associated with these technologies.
On December 12, 2025, the U.S. convened the inaugural Pax Silica Summit to secure the supply chain of critical minerals and build advanced manufacturing and logistics capabilities critical to new frontier technologies such as semiconductors and AI. ‘Pax’ in Latin means ‘peace’ and ‘Silica’ is a key compound used in chip manufacturing — taken together they suggest that the supply chain for new technologies should promote peace and prosperity. The Pax Silica Declaration noted that the initiative seeks to reduce coercive dependencies, secure global tech/AI supply chains, and build trusted digital infrastructure.
