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Chinalogue: Global focus on China's rare earths
Apr 25, 2011China is at the center of international trade rumblings over 17 minerals that are essential in producing high-tech products used around the world.
These rare earths- as they're collectively called- are found in our iPads, hybrid cars, fiber optic cables, wind turbines and even military equipment. China sits on 36 percent of the world's reserves. And while that's a significant chunk, what's even more noteworthy is the world relies on China for 97 percent of its supply.
While China abandoned most export restrictions when it joined the World Trade Organization in 2001, over the past few years it has increasingly limited its exports of rare earths. China says it intends to increase exports by the end of this year. Importing countries have cried protectionism, but China says the restrictions are necessary to protect the environment.
So what's going on domestically in China's rare earth industry? How are importing countries responding to China's tight grip on the precious commodities?
Katie Fischer is joined by:
Steven Dickinson
Attorney at Harris & Moure, pllc. and co-founder of the China Law Blog
John Gong
Professor of Economics at the University of International Business and Economics
Aired April 22, 2011
Tags: rare earth,WTO,exports,trade,natural resources,China,
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