Rare Earth Metals
I seem to remember reading that Rare Earth Metals aren't really that rare; although they aren't easy to separate and purify.
As with most things, you used to get them in lots of places (including America), then everyone decided it was cheaper/easier to buy them from China and stop doing it themselves. That was great until people wanted China to make everything, so now China use most of the REM that they produce, meaning that it's harder for anyone else to buy them.
America and other countries could start processing them themselves again, but it's far easier to just bitch on about China (who are only in that position because everyone put them there; also to be honest if you only had enough food for you, you wouldn't go selling it to others, now would you).
As for reducing the need for REMs, not much. The lasers that you want to use for the transmission end will want a little Nd. Plus all the magnets for all the windmills to power them want loads more Nd, plus there's no point in having fast internet without screens etc, more REMs...
I stand back waiting to be flamed because I've totally misinterpreted the state of things.