Slashdot Mirror

← Back to Stories (view on slashdot.org)

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

Posted by Soulskill on from the mommmm-he-won't-share-his-toys dept.

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."

4 of 218 comments (clear)

  1. Bogus article by samantha · · Score: 5, Insightful

    First of all, the WTO has no means to order any country to sell anything at what it determines is a "fair price". Second, China does not have a monopoly on rare earths. They exist is many many countries. Those countries may not be actively pursuing them and exporting them to the same degree but that is not China's fault.

    1. Re:Bogus article by headhot · · Score: 5, Insightful

      Other country's rear earth providers all went bankrupt and shut down because China was dumping. Now that they are all gone, China cuts back on supply (for environmental reasons.. right) to drive prices up.

      I think the term is call 'cornering the market.' Except this time its not orange juice, and they pulled it off.

    2. Re:Bogus article by cpu6502 · · Score: 5, Insightful

      Funny? I thought we are supposed to protect the environment. I guess they mean OUR environment, not China's.

      For 200+ years China was bullied by western powers. Now they have the upperhand with the resources AND the money. LOL. It's like watching the second collapse of Rome unfold (We're probably at year 400 in the timeline). Strong enough to raise an army but not strong enough for a real war. EU/US influence is shrinking.

      --
      My AC stalker: " I personally agree with your posts most of the time, but that won't keep me from modding you troll"
    3. Re:Bogus article by TheRaven64 · · Score: 5, Insightful

      Uh, what? China isn't shutting down mines, it's increasing mining, it's just making sure that the output from the mining goes to factories in China (which have lower environmental standards than in most of the rest of the industrial world, which is a big part of the reason why companies can manufacture cheaply there) rather than being sent abroad. Although they'll quite happily send them to factories producing goods for export.

      If anything, reducing rare earth exports increases pollution in China.

      --
      I am TheRaven on Soylent News