The G-20 is tiptoeing around China with a sledgehammer. In a draft declaration seen by Bloomberg, leaders called for shielding the global critical-minerals value chain from “unilateral trade measures inconsistent with WTO rules”—a diplomatic way of saying: everyone noticed what China did this year. Beijing’s licensing chokehold on dysprosium, terbium, and other heavy rare earths rattled supply chains from missile makers to EV plants, and the repercussions are still rolling through the system. Over the past six months, the…