China Plays Down Rare Earth Fears

[Coventina]

Source: Wall Street Journal

BEIJING – A Chinese official attempted to quell global concerns that China is trying to dominate the market for a class of metal ores called rare earth, saying that rather than seeking to prop up prices of the metals, it is trying to attract high-tech manufacturing to Inner Mongolia, the center of its rare-earth resources.

"We do not focus on short-term gains in rare-earth prices," said Zhao Shuanglian, vice chairman of Inner Mongolia Autonomous Region. "We want rare-earth industries to locate in Inner Mongolia, and we're discussing with government departments to stabilize rare earth prices."

With China controlling more than 90% of the world's output of rare-earth metals, which are used in environmentally friendly technologies such as hybrid-car batteries, and after recent steps by Beijing to reduce mining and exports of the metals, concerns have grown globally of a developing race to control the small but increasingly important market.

Mr. Zhao, whose rank is equivalent to a deputy governor, said Beijing's recent moves were meant more to attract manufacturing investments.

Read more: http://online.wsj.com/article/SB125188565571379063.html

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As I just posted in another thread: I think it's now official - it's China's world & we're just living in it....

[rurallib]

1. I'd say you are right. And we gave it to them

See Cheney-Bush admin to see how.

[Hardrada]

2. Are they disbanding? They had few hits didn't they?

[Ghost Dog]

3. "China's world & we're just living in it...."

Not just living in it... We can do (very interesting, exciting) business.

[Pavulon]

4. Oh jeebus they have taken over the entire world..Ack.

maybe they can use those elements to make robot bees to pollinate their flowers since they killed all the real ones with pollution. Maybe they can manufacture a reactor system rather than paying westinghouse billions, nope. Not yet.

Name one thing made in china (other than meat puppet cheap labor) the rest of the world requires. If you want a shitty cheap coffee maker or shirt that looks and feels cheap you are in luck.

Want something that is not cheap trash, well they do have some really nice pottery from 1500 years ago.

[burrowowl]

5. U$ of A

better get serious about recycling in this COUNTRY!
and keep chip manufacturers in this COUNTRY!
EDIT: Imagine China rationing these metals to the USA! Defense, Air Traffic Control, MRIs, etc. done the drain!

[Lagomorph]

6. China has all the dollars it wants....

So they're gonna want technology, gold or Ben & Jerry's.

[DainBramaged]

7. liar

they try to dominate every market they choose to trade in.