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China plans to reduce its exports of minerals; has monopoly on crucial rare elements

By Alliance Alert

New York Times: "The Chinese government plans a further reduction, of up to 30 percent, next year in its quotas for exports of rare earth minerals, in an attempt to conserve dwindling reserves of the materials, the official newspaper China Daily said Tuesday." Wall Street Journal Editorial, "China's Rare Earths Gambit" [full text via Google News]: "If this continues over the next few years, it will put big multinationals in a bind: Either move high-value production processes to China, or get out of certain lucrative businesses. Beijing has always driven a hard bargain with foreign firms, using the allure of its giant domestic market to force technology transfers. Rare earths represent an even bigger crowbar with which to pry out Western corporate trade secrets." Related: Chinese monopoly on rare earth elements poses grave danger

Full post as published by Constitutionally Correct on October 19, 2010 (boomark / email).