Stockpile 10 years worth of the entire west's consumption of rare earth minerals? That's not gonna be cheap. Would China even have the production capacity to handle it in a reasonable time frame?
Would China even want to sell it, even if they could? Letting a country stockpile doesn't seem in their interest: the whole reason you want to do it is to reduce reliance on them, they'd probably want to keep you hooked
We're reasoning about the current state of things. We're /not/ suggesting this is good or should continue.
The unwritten implication is, we can do it ourselves, but the price will skyrocket as a result. I personally think that would be fine. Wait a minute and someone else will come by to yell about this the other way.