US, EU, Japan Complain To WTO Over China's Rare Earth Ban

eldavojohn writes "China's rare earth monopoly has resulted in a shortage as China blocks their export and the rest of the world resumes their operations. Now, in a first-ever joint filing from three members of the World Trade Organization, Japan, the EU and the U.S. are not sitting idly by as China repeatedly ignores the WTO's orders to export rare earth metals and raw materials at a fair price to other countries. China claims the embargoes are in place to protect its environment, while Obama denounces China as being unfair and not playing by the rules of the WTO. In 2009, the WTO released a report (PDF) that explained how actions like China's hurt trade partners."

Comments

Bugger the WTO

[Cosgrach]

And the US and others for having their head up their asses. Seriously, the resources are on Chinese territory they can do with it as they please. Just be glad that they are willing to sell at all. These minerals exist in other countries as well, but they shut down their production to buy from China. Deal with it an re-open the old mines. Southern California has a fair sized deposit in the Mojave desert. I know that production has started up, but it will take some time to get meaningful quantities. Until then, tough shit.