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China Rare Earth: US, EU, Japan Accuse China of Hoarding Minerals Needed for Technolo 

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  #1  
Old 03-13-2012, 02:03 PM
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China Rare Earth: US, EU, Japan Accuse China of Hoarding Minerals Needed for Technolo

BRUSSELS—The United States, the European Union and Japan filed complaints Tuesday with the World Trade Organization charging that China is limiting its export of rare earths, minerals that are vital to the production of technology components.

China has a stranglehold on the global supply of 17 rare earth minerals that are essential for making high-tech goods including hybrid cars, weapons, flat-screen TVs, mobile phones, mercury-vapour lights, and camera lenses.

But China has cut its export quotas of these minerals over the past several years to cope with growing demand at home, though the government also cites environmental concerns as the reason for the restrictions.

U.S. industry officials suggest it is an unfair trade practice, against rules established by the WTO, a group that includes China as a member.

EU Trade Commissioner Karel De Gucht said China’s export quotas and export duties give Chinese companies an unfair competitive advantage, and must be removed.

“These measures hurt our producers and consumers in the EU and across the world,” De Gucht said.

President Barack Obama planned to announced the U.S.’ filing of a complaint from the White House on Tuesday. The fresh action is part of Obama’s broader effort to crack down on what his administration sees as unfair trading practices by China. Senior administration officials said Beijing’s export restrictions give Chinese companies a competitive advantage by providing them access to more of these rare materials at a cheaper price, while forcing U.S. companies to manage with a smaller, more costly supply.

The three separate but co-ordinated filings with the WTO formally request dispute settlement consultation, which is the first step in a WTO complaint. If no resolution is found after 60 days, the dispute can be transmitted to a WTO Panel for a ruling. At the end of the process, depending on the outcome, sanctions against China are possible.

In addition to rare earths, the complaints cover tungsten, a very hard metal, and molybdenum, a metallic element used in making different types of steel as well as in other industries.

Anticipating the complaints, China earlier on Tuesday defended its curbs on production of rare earths as an environmental measure.

Global manufacturers that depend on Chinese supplies were alarmed by Beijing’s decision in 2009 to limit exports while it built up an industry to produce lightweight magnets and other goods that use them. China has about 30 per cent of rare earths deposits but accounts for 97 per cent of the world’s production.

China needs to limit environmental damage and conserve scarce resources, said a Chinese foreign ministry spokesman, Liu Weimin.

“We think the policy is in line with WTO rules,” Liu said at a briefing.

The complaints filed Tuesday follow an earlier EU challenge to China at the WTO on restrictions on other raw materials. Earlier this year, the WTO ruled that export restrictions on those other material were incompatible with the rules of the global trade organization, of which China is a member.

But EU officials said China has made no move to comply with the earlier ruling.

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Old 03-13-2012, 03:12 PM
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Re: China Rare Earth: US, EU, Japan Accuse China of Hoarding Minerals Needed for Tech

That's just not rice.

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Old 03-14-2012, 03:41 PM
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Re: China Rare Earth: US, EU, Japan Accuse China of Hoarding Minerals Needed for Tech

give me a break, if America or the EU had a stranglehold on it and needed it for themselves they would do the exact same thing!

bahhh its not fair that another country planned ahead and have an advantage :'( Dad tell them its not fair!

Fuckin punk bitch hypocrits. I fucking hate this place

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Old 03-14-2012, 03:43 PM
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Re: China Rare Earth: US, EU, Japan Accuse China of Hoarding Minerals Needed for Tech

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Originally Posted by bigmikeymike View Post
give me a break, if America or the EU had a stranglehold on it and needed it for themselves they would do the exact same thing!

bahhh its not fair that another country planned ahead and have an advantage :'( Dad tell them its not fair!

Fuckin punk bitch hypocrits. I fucking hate this place
Dude sorry are you upset at me or your country? I just made this random post I don't know what to say!

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Old 03-14-2012, 07:07 PM
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Re: China Rare Earth: US, EU, Japan Accuse China of Hoarding Minerals Needed for Tech

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Dude sorry are you upset at me or your country? I just made this random post I don't know what to say!
I'm upset with Merica, not you. Merica never ceases to... well, disgust me.

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Old 03-15-2012, 04:17 AM
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Re: China Rare Earth: US, EU, Japan Accuse China of Hoarding Minerals Needed for Tech

Lol if it was some little shit country (Iraq/Afgarbagestan) they would not hesitate to invade it. But since it's China, they can't do anything but whine about it.

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Old 03-15-2012, 10:13 AM
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Re: China Rare Earth: US, EU, Japan Accuse China of Hoarding Minerals Needed for Tech

Fuckit, let's go to war.

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Old 03-15-2012, 10:59 AM
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Re: China Rare Earth: US, EU, Japan Accuse China of Hoarding Minerals Needed for Tech

Yeah!!! Lets exploit China!!! What a bunch of a bloody hypocrites. Why not to exploit US of A?

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Old 03-15-2012, 12:43 PM
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Re: China Rare Earth: US, EU, Japan Accuse China of Hoarding Minerals Needed for Tech

Its China.

There is a thing they see as the world being their oyster. Why do you think they are currently expanding into every available mineral source in Africa?

If they have it, they can defend it with military might.

People who dont understand the chinese mentality towards their own goals are in for a shock down the line.

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Old 03-15-2012, 08:50 PM
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Re: China Rare Earth: US, EU, Japan Accuse China of Hoarding Minerals Needed for Tech

If you are selling high grade weed, i am willing to pay a fair price for it. If you suddenly cut the amount you sell to me and raise the price i will be angry. If you are not open to reasonable discussion which sees me buying the quantity i need for a fair price once again i will react in a way that does not benefit your health.

Now replace me with a world market, and replace weed with rare earth minerals. China has made the same mistake certain middle eastern countries have and that is restricting supply of a needed commodity after establishing the ability to satisfy an output quota.

I sort of understand these hippy cock suckers that spew 'but it is theirs, they can do what they want with it', but understand that their side is not my side and if you are not on my side you are an enemy, and enemies either do what they're told or get their teeth knocked out.
Honestly, who gives a flying fuck about China? I only care about me and my own, i give not a shit about fuckers across the pond that i do not know.

When you see the stamp that says 'Made in China', what do you think? I'll take a shot and guess that you think to yourself 'just another cheap shitty chinese product', and that's so true. Their products are shit so why let them waste valuable resources on making more cheap crap while allowing them to restrict materials that other companies can use to make high quality products we all want to own? Maybe the call for war was premature, but a call for trade sanctions is not.

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