As electric vehicle production ramps up in the 21st Century, a global assessment of the crucial battery production needed to sustain the industry’s growth reveals how the U.S. and China have brought their differences into this arena.

US Treasury Secretary Janet Yellen recently visited China. The visit and the core messages that accompanied it were remarkable because they evinced an America short on confidence but imbued with its historic sense of entitlement.

China's focus on electric vehicles (EVs) over internal combustion engine cars - the "Great Leapfrogging Forward” - has significantly reshaped the global industrial landscape to China's benefit. Recognizing and accurately assessing China's capabilities instead of propagating unfounded narratives about its imminent decline constitutes the foundational first step in competing effectively with China.

China seized global attention in September with the announcement that it had begun earnestly planning a ban on traditional gas-fueled vehicles. So far, no date has been set for the final cutoff, and important strategic details remain murky. But the decisiveness and finality of the announcement has animated environmentalists, investors and auto manufacturers, who sense a unique business opportunity.