Row Over Rare Earth Metals

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In The Media

Row Over Rare Earth Metals

Rare earth metals are vital ingredients in a wide range of high tech product lines important to global trade and China's perceived monopoly on these metals is a big concern for the West.

By Yukon Huang

Published on Mar 13, 2012

Source: BBC News

Rare earth metals are vital ingredients in a wide range of high tech product lines important to global trade. Speaking on BBC News, Carnegie's Yukon Huang explained that China's monopoly on these metals is a big concern for the West. At least in theory, the United States, the EU, and Japan have legitimate grounds to file a case against China at the WTO because China has levied export quotas in such a way that prices for Chinese producers are lower than prices for foreign producers, Huang said.

Huang explained that China only has one third of global reserves of these minerals; the bulk lies in the United States, Canada, and Australia. Several years ago, China warned that growth in the extraction of rare earth metals would not be sufficient to meet global demand so quotas would have to be levied. Over the last two to three years, Huang concluded, western producers have faced a dwindling supply that is not sufficient to meet their needs.

About the Author

Yukon Huang

Senior Fellow, Asia Program

Huang is a senior fellow in the Carnegie Asia Program where his research focuses on China’s economy and its regional and global impact.

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Political Reform Economy Trade Foreign Policy North America United States East Asia China

Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

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