In 1986, Deng Xiaoping launched the 863 program, aimed to gain control of the rare earths market saying: The Arab countries have oil; China has rare earths. [ ] The Ukraine crisisand Chinas rare earths industrial consolidation and reformhas given Russia an unprecedented incentive to develop a rare earths mining industry, which, in addition to its hydrocarbons, would give it further huge bargaining power on the world economy.