World faces hi-tech crunch as China eyes ban on rare metal exports

[FreakinDJ]

World faces hi-tech crunch as China eyes ban on rare metal exports

Beijing is drawing up plans to prohibit or restrict exports of rare earth metals that are produced only in China and play a vital role in cutting edge technology, from hybrid cars and catalytic converters, to superconductors, and precision-guided weapons.

A draft report by China’s Ministry of Industry and Information Technology has called for a total ban on foreign shipments of terbium, dysprosium, yttrium, thulium, and lutetium. Other metals such as neodymium, europium, cerium, and lanthanum will be restricted to a combined export quota of 35,000 tonnes a year, far below global needs.

China mines over 95pc of the world’s rare earth minerals, mostly in Inner Mongolia. The move to hoard reserves is the clearest sign to date that the global struggle for diminishing resources is shifting into a new phase. Countries may find it hard to obtain key materials at any price.
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6082464/World-faces-hi-tech-crunch-as-China-eyes-ban-on-rare-metal-exports.html

So as governments around the world dump $Trillions of dollars (a good potion of which end up in China) into their economies to "Head-Off" an Economic Melt Down of the World's economy, China seeks to further manipulate currencies and engage in protectionist measures that would adversely effect the rest of the World's Economy

Remind me again why we gave them "Most Favored Nation Trading Status and Admission into the WTO"

[imdjh]

1. Corn will save us. You can use corn for anything. The Mayans knew this.

The Mayans used corn in their laptop batteries and were getting 8 hours of high performance use while European were still trying to figure out gun powder.

[Lagomorph]

2. If they do, we can...

..kiss solar panels goodbye.

[Champion Jack]

3. At least we have a huge supply of Unobtainium

[FreakinDJ]

4. Maybe we can trade Bundled Home Loans for the raw materials

as long as they are Heavily Securitized with Crdeit Default Swap Options, American Industries can manufacture a AAA rating for them

[snagglepuss]

6. LOLOL nt

[BeHereNow]

10. BWAHAHA!!! BEST POST EVER!!!!

"Unobtainium"
Priceless post- seriously.

:thumbsup: :thumbsup: :thumbsup: :yourock:
BHN

[Deja Q]

5. Sounds like protectionism. Where's that free market?

[thunder rising]

7. No, it's monopoly. They have the metals and the manufacturing to use them

The rest of the world can buy finished products from them ... good move on their part. That is what a government that takes care of it's own nation first does. It creates advantages and then seizes them. China spent a lot of peasant effort to give us the credit we wanted to give up our research, manufacturing and engineering.

It just keeps the current swift in the spinning water around the drain that is taking us down.

Burmuda grass ... it's not just for breakfast anymore!

[westerebus]

8. Bolivia

Has about 50% of the earth's lithium. If you want to produce electric batteries capable of moving cars you must have lithium.

Guess who we will be invading, sorry, liberating next?

As far as the exotic earths used to produce powerful magnets and heat resistant metals, we will find we have close to the same amount in Canada or Mexico. And we already own them, sorry, they are our best trading partners.

What you want to look for is who can produce nano technology that doesn't screw up. Hello, India.

[bhikkhu]

9. Since when are 95% of rare metals located in Inner Mongolia?

Pardon the skepticism, but it hasn't even been that long that we've traded with China at all anyway. Something sounds screwy there.

[FreakinDJ]

11. China and their $2 a day labor is just the cheapest place to mine them

I agree with you - but it well significantly drive up the price of those minerals and the products they are used in - giving China yet a larger economic advantage in producing those same products

[OllieLotte]

12. Ah Grasshopper , a good question.

The metals are not all that unique to China either. These metals are not mined in the usual way that we think of mining. They are frequently obtained when other metals are mined. Mining them isn't all that expensive either. The problem is cleaning up the mess left behind. Frequently acids are used.

[phantom power]

13. That is the likely reason the rest of the world prefers to let China do it.

China doesn't care if they clean up the mess. They fuck their citizens and the environment, and pass the savings on to us.

It's a tidy economic arrangement.