Skip to comments.China 'stockpiling rare earths for strategic reserves'
Posted on 07/05/2012 12:37:03 AM PDT by Olog-hai
China has started stockpiling rare earths for strategic reserves, a state-backed newspaper said, in a move which may raise more worries over Beijing's control of the coveted resources.
China has already started the purchaseusing state fundsand storage of rare earths for strategic reserves, the China Securities Journal said, but did not say exactly when the initiative was launched.
The country produces more than 90 percent of the world's rare earths, which are used in high-tech equipment ranging from iPods to missiles, and it has set production caps and export quotas on them.
Major trading partners last month asked the World Trade Organization (WTO) to form a panel to resolve a dispute over China's export limits on rare earths after earlier consultations through the global trade body failed.
The European Union, the US and Japan claim China is unfairly choking off exports of the commodities to benefit domestic industries.
The newspaper said current low prices for rare earths had prompted the start of strategic buying and the reserves could be used to address future shortfalls of the resources.
China had already announced its intention to build a strategic reserve system, but had not publicly said that it had started stockpiling.
China has previously defended its rare earths policies, saying they aim to protect resources and the environment as part of an effort to promote sustainable development.
A Chinese official said last month the regulation of the rare earths industry was in line with global trade rules.
(Excerpt) Read more at telegraph.co.uk ...
Oh maybe we could ask then to stockpile it for us to
China’s attempts to corner the world supply of rare earths has resulted in the reopening of several mines in the U.S. and other countries as well as research and development using on more plentiful replacements. They’re not the geniuses some claim them to be.
Innovative entreprenuerial ingenuity not found in a communist nation like China, only copy cats
Wasn’t this a story a year or 2 ago?
“China has previously defended its rare earths policies, saying they aim to protect resources and the environment”
HaHaHaHa. The Chicoms want to protect the environment
Sounds like a smart move.
As with energy, the USA will never be allowed to use the resources we have access to. We must become the "best customers" of our enemies, instead.
Are we there yet?
Meanwhile, the once great United States of America is 5 Gears in Reverse: Obsesssing over fags, inventing racism (”minority” racism is indeed VERY active), catering to the generational parasites, paralyzed by layers of lawyering, saddling ourselves with Marxist environmental nonsense, and creating make-work positions in government for the lazy and talentless.
China OUGHT to be blowing our doors off as they shift into fifth gear.
“Innovative entreprenuerial ingenuity not found in a communist nation like China, only copy cats.”
Which will probably STILL be enough to whip us, as we’ve let the anti-American Left assume power, effectively throttling, no CRIPPLING, our once magnificemt economy and culture.