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Yes but China came to enjoy global supply chain monopoly over refined rare earths due to a deliberate state led investment in gaining that strategic advantage.
It will take USA at least a decade and huge investment to regain independent supply of the refined rare earths required to maintain its military power projection- in the meantime that power projection is lost.
On electricity power generation - Chinese consumers consume a fraction of what US consumers use- Chinas deliberate strategy of electricity generation AND efficiency has resulted in consumers and producers in China pay LESS THAN HALF what is paid in all other industrialized nations.
Cheap plentiful electricity is core to Chinas economic strategy as it enables reduction in reliance upon imported fossil fuels and enhances the competitiveness of Chinese manufacturers.
Yes a huge proportion of US energy is fossil fuel based, not electric, showing how redundant and last century US economy is now.
The post industrial AI-robotics-digital economy is underpinned by electricity generation capacity- not fossil fuels.
Lack of long term strategic planning + US Exceptionalist complacency has consigned USA to the almost certain loss of its petrodollar extraordinary privilege.
It wouldn't be so cheap if they used common American comforts like clothes driers and AC.
The strength of an economy is measured by the quality of life it produces. China is poor, polluted, cramped, and authoritarian.
The trajectory of an economy is determined by the trends in productivity.
USA has become an over entitled inefficient bloated and obese economy.
Thrift and efficiency and targeted investment in productive enterprise are the hallmarks of a rising economy.
The 'rights' Americans enjoy and demand more of are largely enabled via its global resource, military, monetary and institutional hegemony.
With the decline of that extraordinary privilege expect a decline and ever increasing internal strife, chaos and repression- its already evident.
That's a temporary blip. Rare Earths aren't actually rare, they're just environmentally destructive and expensive to dig up. Push come to shove, the America and anyone else can mine their own.
Certainly the first part. America is the only major western economy that's continued growing, though, so it's not obvious to me that it's declining.
I don't need to refute it. There are 4x as many people in China, so they still are not generating as much electricity per person. Further, an enormous amount of US energy use is not from electricity, so just showing electricity is misleading.