And just to remind people. “Rare Earth” materials aren’t actually rare. They’re common. However, they are distributed in very very low concentrations, so you have to go throw mountains worth of material to extract measurable amounts of Rare Earth materials. This is typically energy intensive and ecologically destructive, which in most of the work equals “expensive” which is why the nations of the world have been happy to shut down their own Rare Earth extractions facilities any paying China to destroy its ecology instead.
China is free to set up its restrictions on exports. Other nations are free to restart their own extraction operations (with the costs that come with it).
That is a true statement. However, as the article points out they produce 90% of the world’s supply of Rare Earth materials.
Sales aren’t everything. China has ~44M Metric Tons of REE reserves, Vietnam 22M, Russia 21M, Brazil 21M, India 6.9M, Australia 4.2M, USA 2.4M, Greenland 1.5M.
However, specific metals out of the 17 have wildly different graphs, such as Palladium commonly used in military armored plating being produced mostly in Russia and South Africa. USA produces many times over as much Palladium as China reports.
If China’s domestic use concerns are actually for military use then that’s troublesome because the metals they have are more useful for automation and electronics than anything else.
This effectively makes all minerals the state’s property and prevents commerce with other nations who specialize in heavy machinery or electronics including: USA, UK, EU, SK, and Japan.
prevents commerce with other nations who specialize in heavy machinery or electronics
how
Previously, Beijing already started enforcing a ban on exports of REE and related technology exports.
The new regulations include a strict database on REEs outlining when and where they were extracted all the way to where they’re exported. The laws stipulate that “no organization or person may encroach on or destroy rare-earth resources.”
So they limited supply to our industrial base?
Aint this something that WTO would handle?
Well, looks like they are trying to feed their own industry first.
I don’t see this either shocking or surprising. China will do what is best for China, we do what is best for …
What is best for China is peaceful coexistence and small concessions to incentivize trade and development of the world.
What China is doing is maliciously taking everything they can get their hands on until every bridge is burned, and by the looks of it they’re ramping up military production to cross the river and keep taking.
Exactly the sort of shortsighted belligerent actions you would expect from a dictatorship.
I am not here to excuse China’s behavior but this action appears to be part of the trade war that US and EU started… for valid reasons.
We do a lot to make other countries “uncomfortable”, there is nothing special about Chinese behavior here per se.
Let’s not forget that we enabled China’s rise. People within western governments who committed this crime are not held accountable for this blunder.
Now they are gearing us for what appears to be at very least economic conflict but likely a war. This is very concerning.
small concessions to incentivize trade and development of the world.
FYI we don’t do this btw
LMAO, China has been playing games with currency values and undercutting electronics manufacturers for decades.
FYI we don’t do this btw
In 1979, President Carter proposed a Trade Agreement that changed China to favored trader status with much lower tariffs across the board, and in return China agreed to a cap on textile output so as not to flood the market with cheaper goods than the USA was producing.
The 1980s saw even more favorable deals in exchange for similar restrictions as Reagan was eager to work with China.
Trade broke down in the 1990s over China committing crimes against their own people, broadcasted live across the entire world.
In 2000 President Clinton helped China enter the WTO to renew trade again.
And in return they spent the last 24 years shitting the bed, doing everything in their power to mess with any market they can, like sharks drawn to blood.
