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Global Times: Beijing appoints 40 international friendship ambassadors, showcasing capital’s commitment to openness, inclusivity, and global engagement

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BEIJING, Dec. 11, 2024 /PRNewswire/ — Chinese President Xi Jinping often quotes an ancient saying on many diplomatic occasions: “No mountain or ocean can separate those who share the same aspirations.” This powerful message underscores the undeniable force of friendship and cooperation in bridging hearts across nations, cultures, and civilizations.

Inspired by President Xi’s vision, people-to-people exchanges between China and the world have been flourishing. People from diverse backgrounds and fields – united by common goals and dreams – traverse mountains and oceans to connect with each other. Through letters, face-to-face dialogues and vibrant cultural events, they are collectively weaving a magnificent tapestry of building a community with a shared future for humanity.

The Global Times presents “Intertwined Destinies, Shared Paths,” a series spotlighting the touching stories written by these “friendship ambassadors.” They are scholars pushing the boundaries of research, diplomats advocating for deeper cooperation on the global stage, artists igniting imaginations with their creations and ordinary people extending heartfelt love beyond national borders driven by genuine sincerity.

Their tales illuminate the spark of cultural exchange, the driving force of technological innovation, the bountiful harvest of economic cooperation and the enduring warmth of human connection – all contributing to a more peaceful, prosperous and open world. This is the second installment of the series.

Kelsey Charles, a 39-year-old American who has lived in Beijing for almost 15 years, says Beijing is his “home” when asked his feelings about becoming a “Beijing International Friendship Ambassador.”

Currently working at Beijing Language and Culture University teaching public speaking, Charles was one of the first 40 foreigners, including foreign companies employees, foreign expertise, overseas students and foreign reporters, who were named “Beijing International Friendship Ambassadors” in November.

“I feel honored. It’s a great opportunity to be chosen to be a part of the program and see what I can do to help improve my home,” Charles told the Global Times. 

The “Beijing International Friendship Ambassador” program is initiated by the Foreign Affairs Office of the People’s Government of Beijing Municipality. It is aimed at enhancing the quality of Beijing’s international service and establishing a regular communication and contacting channel with foreign friends in Beijing, the Global Times learned. 

China has been optimizing its services to overseas arrivals along with the “China Travel” fever in recent years. As the capital of the country and an example of Chinese cities, Beijing’s move indicates the sincerity of Beijing to improve its international services. It also indicates the determination of Beijing to help build a more open, inclusive and internationalized China, said Zhang Yiwu, a professor at Peking University. 

A bridge of communication

After spending 15 years living in Beijing, Charles said he really enjoys the city’s convenient public transportation. “I don’t need a car. I can use public transport and I love the subway. The ease of movement means I’m never worried about how I’m going to get somewhere or how I’ll get home,” he said.

“Amazingly good and beneficial” sports facilities and other exercise facilities in public places such as parks and communities also impressed Charles. “I love being able to easily play badminton or tennis.”

After being named the “Beijing International Friendship Ambassador,” Charles felt more responsible to help new foreign arrivals to Beijing to learn, adapt to and fall in love with the city. “Not everyone gets a chance to be a part of this, and I have friends who like me have had issues or obstacles in their daily lives. I have already and will continue to talk to these people and hopefully be able to bridge for even more communication in the wider expat community,” he said. 

According to the Beijing Foreign Affairs Office, the international friendship ambassadors come from a diverse range of sectors. They have the opportunity to engage in activities organized by the office, allowing them to personally experience Beijing’s international services and offer valuable feedback and suggestions. Additionally, they are encouraged to share their insights whenever they or their families and friends face challenges related to studying, living, or working in Beijing. 

Joseph, a 29-year-old student from Croatia, who is pursuing his master’s degree in neurosurgery at the Beijing Tiantan Hospital and also one of the 40 “Beijing International Friendship Ambassador,” shared Charles’s sense of honor and excitement.

“This role holds deep meaning for me, as it represents an opportunity to give back to a city that has welcomed me so warmly,” he told the Global Times.

Joseph said he is committed to “making healthcare in Beijing more accessible and approachable for our foreign friends who call China home.” His hope is “to serve as a bridge, connecting people to the healthcare resources they need.”

To build a better city

Create payment service consultation centers at the airports; be the first in the country to implement foreign card tap-and-go access for urban rail transit; install foreign card POS machines and ATMs in star-rated hotels and key cultural and tourism locations; launch the new version of the Beijing International Portal website … Beijing’s recent efforts bring about more practical convenience to foreigners. 

“I have found that communication with the police station to report on my residency has been much easier given that I can now do a majority of this online and not physically in person. This is a great improvement,” he said.

Joseph is also pleased with the recent measures implemented in Beijing, Shanghai, and other parts of China to make it easier for foreigners to live and travel here. “For example, the simplified process for booking hotels without restrictions for foreigners has been a great improvement. The advancements in online banking, including the ability to use foreign cards more easily, have made life much more convenient – not just for me but also for many of my friends who have come to stay in China.”

Additionally, China stands out as one of the top countries offering scholarships to international students, which demonstrates a strong commitment to attracting and nurturing foreign talent. “These initiatives make me feel that China genuinely values the international community and is making real efforts to welcome us,” Joseph noted. 

Holding a deep affection for Beijing, “International Friendship Ambassadors” also share the obstacles and difficulties they and their families and friends encounter in daily life. They hope their experiences and advice can help Beijing learn foreigners’ actual necessities and confusions and make adjustment accordingly.

Charles said the biggest improvements to be made lie within the English language systems of the services. “A big issue seems to be the separation between Chinese citizen services and foreign services. Sometimes services have difficulty recognizing foreign names or the app will reject documents because it doesn’t recognize the format. Optimizing these digital platforms for English language input would be a big help.”

Joseph looks forward to more events that encourage socializing and cultural exchange between foreigners and Chinese residents. “Events that allow people to connect and learn about each other’s cultures would not only enrich our understanding of Beijing, but also deepen our appreciation for the beauty and diversity of Chinese culture as a whole. Many universities already hold cultural festivals that draw large crowds and showcase this interest in cultural exchange, demonstrating that there’s a real desire for everyone to come together and learn from one another. What’s needed is a larger, more accessible platform to make these interactions more frequent and widespread.”

More open, more inclusive

The “Beijing International Friendship Ambassador” serves not only as an observer and experiencer but also as an active participant and advocate for Beijing’s initiatives to connect with the global community. We hope that these ambassadors will share their genuine feelings and insights regarding Beijing’s services for foreigners, drawing from their firsthand experiences and observations in the city. Together, we can build a more harmonious and livable city. Beijing will continue to offer higher quality and more accessible international services to foreign-invested enterprises and expatriates, Lei Xiaoning, deputy director of the Beijing Foreign Affairs Office, said at the launching ceremony of the “Beijing International Friendship Ambassador” project on November 8.

China has continued to optimize its visa-free policies this year. Chinese cities like Beijing have also done a lot to facilitate foreign residents and foreign travelers in recent years. Beijing also has a profound historical and cultural heritage, for example, the Beijing Central Axis that has been named as a World Heritage Site. These efforts and treasures should be known and attract more people to come to China, Zhang Yiwu noted.  

One year ago, China started implementing a landmark trial policy, offering unilateral visa exemptions for more countries, among a variety of measures to welcome international visitors. By November 30, 2024, the policy covered 38 countries, with the maximum stay increased to 30 days, according to the Xinhua News Agency. 

The country has also implemented a 24-hour visa-free transit policy for foreign nationals from all other countries around the world at all its accessible exit-entry ports, according to the China Visa Application Service Center.

Since the beginning of this year, Beijing has processed nearly 800,000 visa-free entries for foreigners, and issued temporary entry permits for 144-hour visa-free transit to over 58,000 foreign nationals who met the entry requirements, according to Beijing General Station of Immigration Inspection.

Other places across the country are also enhancing similar people-to-people exchanges along with their improved services for foreigners. 

Shanghai has built a “city news service” platform to help foreign friends to gain a deeper understanding of Shanghai’s development, while also gaining insights into the work and living conditions of foreign friends in the metropolis. This is aimed at helping the local authorities provide better services and support, ensuring that foreigners live more comfortably and work more smoothly in Shanghai.

With sincere communication, suggestion and practical adjustments, both foreigners and local authorities reached by the Global Times believe that their cities, as well as the country, would be built more open, inclusive and internationalized.  

“Having lived in other countries, I can say that China genuinely cares about meeting the needs of its foreign residents. It’s rare to see government officials who listen, take notes, and strive to address the concerns of the international community. While it may not be possible to meet every individual request, I’ve observed that for many common challenges, solutions are already in place, reflecting a proactive and thoughtful approach,” Joseph said.

https://www.globaltimes.cn/page/202412/1324756.shtml

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SOURCE Global Times

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U.S. News & World Report Reveals the 2027 Best Places to Retire

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Affordability is a top priority for attendees as Midland, Michigan, holds No. 1 spot.

Summary

Midland, Michigan, is the No. 1 Best Place to Retire for the second year in a row.Affordability is the most considered factor when choosing a place to retire in 2027.Florida and Texas dominate the top 250 Best Places to Retire, offering a number of affordable and retiree-tax friendly locations.

WASHINGTON, Oct. 27, 2026 /PRNewswire/ — U.S. News & World Report, the global authority in rankings and consumer advice, today revealed the 2027 Best Places to Retire in the United States.

Midland, Michigan, retained the No. 1 rank for the second year in a row. Midland scored high in affordability and retiree taxes, helping it to lock in the top spot.

“Retirees are seeking a place that gives them a sense of security and comfort as they live out their golden years,” said Megan Wood, assistant managing editor, home services and real estate. “Whether that comfort prioritizes scenic nature spots, access to multi-cultural experiences, or everyday affordability, places like Midland, Michigan, offer financial safety while still providing a good quality of life.”

Homosassa Springs, Florida, came in at No. 2 due to strong scores in affordability, 55+ population growth and retiree taxes. High performance for, quality of life, retiree taxes, affordability and quality of life resulted in Weirton, West Virginia, placing No. 3 on the list.

U.S. News adjusted its scoring weights for the 2027 rankings to mirror a growing concern for affordability in America. This resulted in multiple double-digit jumps in the top 25, including Paducah, Kentucky (No. 8), ascending into the top 10 for the first time.

“It’s no secret that affordability is top of mind for Americans this year, which is why U.S. News updated its weighting criteria to better align with what retirees prioritize,” Wood said. “The 2027 rankings reflect key metrics used to highlight the places that best suit retiree needs.”

U.S. News evaluated more than 850 U.S. cities – publishing the top 250 places – based on how well they meet American retirees’ expectations against measures including quality of life, affordability, healthcare, retiree taxes, job market, and population and migration for retirees aged 55 and older.

The six measures factored into this year’s rankings were weighted based on a public survey of individuals across the U.S. who are at or approaching retirement age (45 and older) to find out what matters most to people when they’re considering where to retire. Resources include federal, state and local data provided by Applied Geographic Solutions, which includes data sourced from the FBI’s Uniform Crime Reporting program, Bureau of Labor Statistics, Bureau of Economic Analysis and U.S. News’ Best Hospitals rankings. To learn more about how the rankings are determined, read the Best Places to Retire methodology.

Best Places to Retire is part of U.S. News’ Real Estate section, which provides rankings and tools to help individuals navigate the housing market, including home value estimates to working with an agent.

2027 U.S. News Best Places to Retire – Top 10 
*See the full rankings here.

Midland, Michigan Homosassa Springs, Florida Weirton, West VirginiaThe Woodlands, TexasSpring, TexasRancho Rio, New Mexico Altoona, PennsylvaniaPaducah, KentuckyLynchburg, Virginia Palm Coast, Florida 

For more information on Best Places to Retire, explore Facebook, LinkedIn, Tik Tok, Instagram and X using #BestPlacesToRetire.

About U.S. News & World Report
U.S. News & World Report is the global leader for journalism that empowers consumers, citizens, business leaders and policy officials to make confident decisions in all aspects of their lives and communities. A multifaceted media company, U.S. News provides unbiased rankings, independent reporting and analysis, and consumer advice to millions of people on USNews.com each month. A pillar in Washington for more than 90 years, U.S. News is the trusted home for in-depth and exclusive insights on education, health, politics, the economy, insurance, personal finance, travel, automobiles, real estate, careers and consumer products and services.

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SOURCE U.S. News & World Report, L.P.

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IBM Introduces Identity and Control for AI Agents, Securing Frontier Intelligence for the Enterprise

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Enterprises are deploying agents faster than they can verify them. HashiCorp Vault uses Agent Identity to give each agent a governed identity Verified agents still need limits on access. Vault extends its established secrets management to AI agents, built to enforce least-privilege access and enable real-time revocation when an agent attempts an unauthorized action Enterprises can’t scale agents they can’t see, test or account for. IBM watsonx Orchestrate is designed to unify discovery, containment, and evaluation across Amazon Bedrock, Microsoft Foundry and Google Gemini 

ATLANTA, Oct. 27, 2026 /PRNewswire/ — At TechXchange 2026, IBM (NYSE: IBM) is announcing new capabilities to help developers, IT and security teams put AI agents to work across business systems with clear authority and accountability. IBM brings together agent discovery, verified identities, access controls and performance evaluation to help organizations understand who owns each agent, control what it can access, and trace its actions across existing applications and infrastructure.  

According to Gartner, by 2028 the average Fortune 500 enterprise will use over 150,000 AI agents. But only 13% of organizations believe that they have the right AI agent governance in place [1]. Persistent credentials, unclear ownership and disconnected controls make it harder to govern agents as they interact with other agents, invoke tools and act across teams, platforms and clouds. 

“The winners in enterprise AI are changing how their business runs, not simply adding more AI to it,” said Dinesh Nirmal, Senior Vice President, IBM Software. “For agents to take on real work across the systems a company depends on, it requires an AI operating model – one that connects agents to the business’s data, applications and infrastructure and runs them with the same discipline as its most critical systems. Build trust and control into that model, and agents stop being a technology and become a way of doing business.”  

Today’s announcements extend IBM’s portfolio to deliver an AI operating model of four essential systems working together: agents, data, automation and hybrid infrastructure. This starts with the trust and control every agent needs – a verified identity, only the access it needs, and one place to discover, secure and evaluate agents regardless of where they were built. 

Extending HashiCorp Vault to AI agents
HashiCorp Vault manages the secrets and credentials that applications and services use to access business systems. It provides that control through centrally managed secrets, automated rotation for supported credentials, and dynamically generated credentials that expire or can be revoked. These capabilities help reduce the time exposed credentials remain usable and limit access to the permissions configured for each role. 

HashiCorp Vault already secures non-human identities for organizations including ABN AMRO, Adobe, athenahealth, BBVA, BlackRock, Canva, Duke Energy, Expedia, London Stock Exchange, Starbucks, Swiss Federal Railways and Target, across systems that process billions of dollars in transactions [2]. HashiCorp will now extend those capabilities to AI agents, issuing secured, short-lived credentials that limit each agent to what it needs. 

Establishing agent identity and accountability
AI agents are a growing class of non-human identity, alongside applications and services. As they begin acting across business systems, enterprises need a clear record of who owns each agent and what authority it has been granted. HashiCorp is combining governed agent identity with credential controls to help organizations delegate work with defined authority and accountability. 

When used with HashiCorp Vault, Agent Identity establishes the authoritative record for each agent, such as who owns it, its lifecycle status and the authority it has been granted. Built to extend existing identity and security investments, it shares relevant identity and authorization context with Vault’s credential controls – ultimately enforcing least-privilege access and enabling real-time revocation when an agent attempts an unauthorized action. 

Controlling agent credentials and access
Identifying an agent is only the start. Enterprises also need to control the credentials it uses to reach databases, applications and cloud services – and how long those credentials remain valid. As agents invoke tools and act across business systems, their credentials become a critical security boundary. An agent with a long-lived, overprivileged credential can put systems and data at risk if it’s compromised or acts outside its intended task. Enterprises need to establish what each agent’s job is, limit the access it receives and revoke that access when circumstances change. 

These controls extend beyond initial authentication. If an agent attempts to retrieve information or perform actions outside its approved permissions, the access can be denied and session revoked in real time to prevent unauthorized activity. Vault’s short-lived credentials and least-privilege controls can further restrict what an agent accesses and the duration of those permissions.  

Additional capabilities include: 

Vault 2.2 gives agents their own secured accounts, automatically renews their credentials and incorporates post-quantum encryption for quantum-era threats. Secure Hub (public preview) gives companies centralized visibility across their Vault environments to make it easier to understand operational health, usage and security resources. 

At TechXchange, client speakers will share how they use Vault to secure enterprise applications, workloads and AI agents 

athenahealth: Automating certificate management with Vault’s PKI engine. Albert Einstein College of Medicine: Applying IBM Verify and Vault to AI agent identity, just-in-time access, dynamic secrets and auditability. Optum: Using Vault Radar to detect exposed secrets and Boundary for just-in-time, identity-based access. Seven-Eleven Japan: Centralizing and encrypting secrets with Vault Enterprise and detecting hardcoded secrets with Vault Radar. Yum! Brands: Building an identity security platform with IBM Verify, with a look ahead to machine identities and secrets management. 

“AI presents extraordinary opportunities to accelerate biomedical research and discovery, but realizing its potential requires a foundation of security, trust, and responsible governance,” said Shailesh M. Shenoy, Assistant Dean for Information Technology at Albert Einstein College of Medicine. “In my experience, technologies such as IBM Verify and HashiCorp Vault can play an important role in helping organizations establish the identity, access, and security controls needed to innovate with confidence.”  

Managing agents across platforms
Identity tells organizations what an agent is. But they also need to see every agent they have, wherever it was built. IBM watsonx Orchestrate works across the AI ecosystem, not inside a single vendor’s platform, to give organizations one place to discover, secure and evaluate their agents. Capabilities include: 

Discover (tech preview): Organizations can’t govern agents they don’t know exist. Orchestrate connects to platforms such as Amazon Bedrock, Microsoft Foundry and Google Gemini to find agents built in third-party environments, so teams can see and manage agents instead of adding them manually. This capability also extends to models and MCP servers. Contain (tech preview): One rogue agent can disrupt others and spread mistakes across the business. Orchestrate now runs agents in isolated sandboxes so a rogue agent can’t interfere with others. Teams also now have access to a kill switch to shut down any agent. Evaluate: Agents that aren’t tested and tracked can quietly drift off course and increase costs. Teams using Orchestrate can now test the quality, accuracy and compliance of agents, models and MCP servers before deployment, then monitor them in production. Built-in cost tracking shows each agent’s model and token use, so teams can spot what’s driving spend and fix it. 

Orchestrate also works with Vault’s credential controls and Agent Identity to establish what each agent’s job is, govern its authority and enforce least-privilege credential access. Together, these controls help organizations authorize and audit agent actions and rapidly revoke trust and credentials when risk changes. 

Connecting agents to the business
Once agents are authorized to use a company’s APIs and tools, they need to know what already exists, how systems connect, what can be reused safely and what their actions could affect. IBM Integration Intelligence Hub is built to provide that knowledge through its Unified Context Engine, so agents can fix problems like stuck messages or deploy an API using what’s already in place. Skills, approval policies and audit controls keep those actions in check. Instead of rebuilding for AI, organizations can put agents to work on the systems they already depend on. 

Scaling agents with NVIDIA
Agent Identity and HashiCorp Vault integrate with NVIDIA OpenShell secure runtime software, the foundation of the NVIDIA OpenShell Architecture. Together, they pair a protected environment for agents to run in with a verified identity and short-lived credentials for every agent, so each action can be traced, limited and reviewed. 

“Businesses need enforceable control over how agents operate and what they can access,” said John Fanelli, vice president, enterprise software, NVIDIA. “Our work with IBM combines NVIDIA OpenShell’s policy-governed runtime with Agent Identity and HashiCorp Vault to help enterprises scale AI agents with secure execution, verified identities and tightly scoped access to business systems.” 

Responding to Emerging Security Threats
When new vulnerabilities are discovered, enterprises must quickly identify affected systems, determine required changes and deploy fixes without disrupting critical operations. In complex environments, this process often involves multiple teams, tools and processes. 

IBM Concert integrates observability, optimization, incident management and security across applications, infrastructure and networks. With AI-powered insights and proof of exploitability, Concert helps teams to identify high-risk vulnerabilities, assess operational impact, and coordinate responses. These capabilities also help organizations address performance, manage costs and maintain resilience in hybrid environments. 

HashiCorp Terraform provides an infrastructure context and governed workflows for change implementation. New features now generally available and in public preview, including Terraform policy, Terraform Developer Portal and Terraform remote MCP server, enable developers and AI agents to access approved configurations and implement infrastructure changes through established controls. Terraform powered by Infragraph also helps teams understand infrastructure relationships and dependencies for more informed decisions. 

Together, these capabilities enable organizations to progress from identifying vulnerabilities to implementing and verifying remediation, while optimizing the visibility and governance essential for enterprise operations. 

A comprehensive system intelligence and change orchestration layer for IBM Z 
IBM Z Atlas maps a client’s entire z/OS stack across infrastructure, middleware, and applications, and then uses that intelligence to address the manual effort of tasks like patch management, regulatory response, and sharing system knowledge across teams, from systems programmers to application developers. Atlas addresses the leading cause of unplanned z/OS outages – changes that aren’t proven to be safe – by mapping how a change impacts the z/OS stack and testing and validating it. This design (in tech preview) accelerates clients’ modernization efforts by keeping experts in control and giving practitioners, in operations or development, the same shared Z system visibility to reduce risk. 

Availability
HashiCorp Vault 2.2, Agent Identity, watsonx Orchestrate evaluate capabilities, IBM Concert, and HashiCorp Terraform policy are generally available. Secure Hub, Terraform Developer Portal, Terraform remote MCP server, and IBM Z Atlas are in public preview. IBM Integration Intelligence Hub and watsonx Orchestrate discover and contain capabilities are in tech preview. 

Statements regarding IBM’s future direction and intent are subject to change or withdrawal without notice and represent goals and objectives only. 

Learn more
IBM TechXchange is IBM’s annual conference for developers and technology practitioners and brings together nearly 6,500 attendees from 85 countries. This year, the event incorporates HashiConf to bring together the HashiCorp community with practitioners from across IBM, Red Hat and Confluent. Attendees can choose from more than 1,000 sessions and experiences, including 180 hands-on labs, 260 client-led sessions and more than 50 certification exams. Speakers include American Airlines, Bradesco, Citi, CVS Health, Deutsche Bank, DoorDash, Hertz, and US Bancorp who will share how they are making AI enterprise ready. 

Session livestream and replays will be available here: ibm.biz/txc26-livestream.  

Supporting Materials

Strengthen security for agentic AI with new Vault, Verify, Boundary, and Secure Hub capabilities  IBM Agent Identity now generally available: Building Trust for the Agentic Era  Vault Enterprise 2.2 advances identity security, PKI, and cryptoagility  Announcing the public preview of Secure Hub: govern Vault at scale  IBM watsonx Orchestrate advances AI agent management with new capabilities  IBM Integration Intelligence Hub gives AI the context to act, not just access IBM Concert platform advances the path to cross-domain agentic IT operations  Terraform advances infrastructure lifecycle management for the agentic era Introducing IBM Z Atlas: Change Intelligence for IBM Z 

[1]: Gartner Identifies Six Steps to Manage AI Agent Sprawl
[2]: HashiCorp Vault client stories  

About IBM  
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information. 

Media contacts:

Sarah Benchaita
IBM
sarah.benchaita@ibm.com

Kate Lehman
IBM
Kate.Lehman@ibm.com 

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Three Blind Spots Leave Industrial Companies Exposed to Critical Mineral Shortages

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Boston Consulting Group Finds Industrial Companies Underestimate Their Critical Mineral Exposure, Which Also Limits Their Access to Public CapitalDemand for Key Minerals Is Projected at 120% to 250% of Forecast Supply Through 2040An Estimated $3.5 Trillion of Products Depend on Gallium, a “Mosquito Mineral” Traded in a Market Under $350 Million a YearSome Governments Have Deployed Less Than 10% of Their Critical Minerals Funds

BOSTON, Oct. 27, 2026 /PRNewswire/ — Industrial companies are underestimating their exposure to critical mineral shortages and missing a strategic opportunity as a result, according to new analysis from Boston Consulting Group (BCG). Three blind spots in the metrics that companies rely on hide where the risk sits, including what BCG calls “mosquito minerals,” so small by traded value that they never reach a risk register.

These are among the findings of Why Critical Mineral Shortages Are a CEO Issue, a BCG report released today. BCG’s proprietary model projects demand for key inputs, including rare earths, graphite, copper and lithium, at roughly 120% to 250% of forecast supply through 2040.

“Most industrials track exposure through spend and direct supplier data, and the minerals that can stop a production line are often the ones they spend almost nothing on,” said Tycho Möncks, a BCG managing director and partner and a coauthor of the report. “The question for CEOs and boards is not whether their company is exposed. It is. The question is whether they intend to live with that exposure or turn it into an advantage.”

Small Markets Can Stall Large Industries

Companies often start their risk assessment with the bill of materials, which points them toward high-volume metals such as copper and lithium. Mosquito minerals fall outside that view. Their traded value is tiny, but the value chains that depend on them are not.

Rare earths. The rare earths used in a fighter jet are worth less than the paint that coats the plane.Gallium. The global market is worth under $350 million a year, with production of only about 900 tons, yet BCG estimates about $3.5 trillion of final products depend on it.Arsenic. The upstream market is about $50 million worldwide, yet a single producer supplies roughly 60% of the ultra-high-purity grade used in 5G and 6G infrastructure, data center optics, radar systems, and defense electronics.Byproduct supply. Gallium, germanium and arsenic are recovered as byproducts of other mining and industrial processes, so the host metal’s market sets their supply. Even a sharp price spike may not bring new production.

Exposure Hides Below Tier One Suppliers

A company that buys almost no critical minerals directly can still be acutely exposed because minerals arrive embedded in motors, magnets, power modules, lasers and sensors. They also sit in the tools and processes used to make those components, from crucibles and catalysts to dies and the capital equipment itself.

Turbine blades, engine blocks and structural aerospace components, for example, are machined with cutting tools made of tungsten carbide bonded with cobalt. A manufacturer that has never bought either metal directly can still see production stop if those tools run short, a dependency that appears on no bill of materials.

Companies also tend to map where critical minerals are mined, but for some minerals the bottleneck is processing, not production. A map of where assets sit and a map of who owns them can look very different, so a change of supplier that looks like diversification may leave a company’s exposure unchanged.

Public Capital Is Committed but Largely Unspent

The three blind spots also lead to a strategic miss. The International Energy Agency reports that public finance commitments to critical minerals in advanced economies reached around $65 billion in 2025, more than four times the 2023 level. BCG’s review of government-backed vehicles found the flagship instruments barely deployed, with some countries having spent less than 10% of their allocated capital and others nothing.

These vehicles are designed to draw in private capital, and offtake requirements are typically the main eligibility gate. BCG argues that companies without a clear view of their own exposure cannot make a credible commitment, and so cannot qualify. The funds are not free money: they carry conditions such as reporting obligations and localization requirements, and they represent only about one tenth of the capital needed through 2040. But for industrial companies, BCG says, they are a way to build a competitive advantage.

Several of the companies that have reframed their approach and tapped public capital are industrial companies and trading firms, not miners, and BCG found that in each case the CEO and executive team led the process of identifying and correcting their blind spots.

“These blind spots have a cost beyond risk. The money is there, but it comes with offtake requirements, and a company cannot make a credible commitment without knowing its own exposure,” said Karthik Valluru, a BCG managing director and senior partner who coauthored the report. “Mapping that exposure properly is where the opportunity starts.”

Download the publication here:

https://www.bcg.com/publications/2026/critical-minerals-risk-blind-spots

Media Contact: 
Bruce Wraight
wraight.bruce@bcg.com 

About Boston Consulting Group
Boston Consulting Group bridges the gap between ambition and outcomes for the world’s leading companies and organizations. We are built for this era of unprecedented change — bringing strategic clarity rooted in over 60 years of deep domain knowledge, combined with applied AI shaped by our practitioners. BCG works shoulder-to-shoulder with CEOs across industries and geographies to deliver transformative impact at scale: stronger returns, transferred capabilities, and change that sticks. For more information, visit bcg.com.

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SOURCE Boston Consulting Group (BCG)

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