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It was the name of a company started by GM in the 1980s to make neodymium-based permanent magnets. My degree is in chemistry & I worked for a big French chemical company that sold separated rare earths.
The Chinese also have a hold on most of the rare earth ores.
So you know exactly what I am referring to.
The Chinese did not STEAL our rare earth manufacturing processes. For all practical purposes, we pretty gave away the entire store. I daresay that having our own domestic presence in rare earth refining and manufacturing is, or was, a pretty important thing to keep.
Your insight into this matter is no doubt a lot better than mine, I just remember that my reaction at the time I read about it was along the lines of
"WTF were they thinking?? The Chinese are already actively engaged in all kinds of corporate espionage, and now we're saying 'Here, take this too, we don't need it'???"
And, it's not JUST the USA by the way, as you probably already well know.
https://vimeo.com/40226173
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