Posted on 10/19/2010 12:53:34 PM PDT by jhpigott
By KEITH BRADSHER Published: October 19, 2010
HONG KONG — China, which has been blocking shipments of crucial minerals to Japan for the last month, has now quietly halted shipments of some of those same materials to the United States and Europe, three industry officials said on Tuesday.
The Chinese action, involving rare earth minerals that are crucial to manufacturing many advanced products, seems certain to further ratchet up already rising trade and currency tensions with the West. Until recently, China typically sought quick and quiet accommodations on trade issues. But the interruption in rare earth supplies is the latest sign from Beijing that Chinese officials are willing to use their growing economic muscle.
“The embargo is expanding” beyond Japan, said one of the three rare earth industry officials, all of whom insisted on anonymity for fear of business retaliation by Chinese authorities. They said Chinese customs officials imposed the broader shipment restrictions Monday morning, hours after a top Chinese official had summoned international news media Sunday night to denounceUnited States trade actions.
(Excerpt) Read more at nytimes.com ...
Obama is out campaigning. Or is he playing golf?
We have plenty within our own borders. Only problem is restarting the mines that were shut down. Even assuming you got government and regulations completely out of the picture and had the capital to do the job it would take at least a year to restart the mines and even longer to begin production. By which time China can jack up its own exports and ruin the market.
Does this mean they will stop exporting lead paint in their toys?
Let China do it. They’ll do it cheaper and we can concentrate on more important things!
Better to find out now what their intentions are than during a war.
What the USA can’t do itself, time to start working with other major mining countries/allies like Australia to make some long-term deals.
When will it dawn on our great leaders that it is beyond stupid to rely on Red China for anything important, including any product or raw material the lack of which could threaten national security, or our economic health.
Incredible how history repeats itself........Japan couldn’t get enough metal back in the ‘30’s....what happened?
My father-in-law, whom has since passed, was an Exec with Union Oil....everytime we would pass a rare earth mining op (name escapes me right now) on the way from Las Vegas to CA on I-15, he would say, Union used to operate that mine but the gd enviromentalists forced us to close it down...I had no idea of the significance of “Rare Earths”...I knew what they were....but, the Chinese are hoarding the elements and we are acting stupidly again re: extracting industry.
I pray for our country.
LOL. Maybe they'll loan us more stimulus money we can use to start more 'shovel ready' projects...
Both as equally effective.
“When will it dawn on our great leaders that it is beyond stupid to rely on Red China for anything important, including any product or raw material the lack of which could threaten national security, or our economic health.”
The only way that happens is if the Chinese defund lobbyists.
Her husband is heavily invested in Chinese rare earth mining as well a gold mine adjacent the Chocolate Mountain Gunnery Range.
In response to the embargo of strategic materials, Impostor Obama announced the formation of a Greater Western co-prosperity sphere. On December 7, 2010 he launched a sneak attack on Shanghai Harbor.
It’ll dawn on them when they stop wanting to shove the responsibility for National Defense on someone else.
I am tempted to question how well this works among generally open economies.
China still needs to sell this stuff.
The US and Japan still need to buy it.
What prevents third parties from buying through European fronts and such?
Granted that this will increase the cost to the end user... Which is probably the point.
I think this is great news. It will finally force the West to face reality about enviro-maniacal restrictions on using our own resources. At least the Chinese are smart enough to put their society’s needs before those of the rest of the world.
Ahhhhhhhhhh - the inscrutable chinese:
China won’t block rare earth metals trade: Premier
* Source: Global Times
* [03:40 October 08 2010
http://business.globaltimes.cn/china-economy/2010-10/579704.html
Premier Wen Jiabao Wednesday responded to allegations the nation is blocking the exports of rare earth metals to Japan saying, “China has not and will not obstruct the trade of rare earths.”
China will ensure a sustainable supply of the resources, while still controlling the output, Wen said at the sixth China-EU Business Summit Wednesday in Brussels. China will not use rare earths as a bargaining tool, Wen said.
China, which has been blocking shipments of crucial minerals to Japan for the last month, has now quietly halted shipments of some of those same materials to the United States and Europe... involving rare earth minerals that are crucial to manufacturing many advanced products, seems certain to further ratchet up already rising trade and currency tensions with the West. Until recently, China typically sought quick and quiet accommodations on trade issues. But the interruption in rare earth supplies is the latest sign from Beijing that Chinese officials are willing to use their growing economic muscle.
It is amazing how cavalier the government now is about where we obtain rare items and many products necessary for national defense. It has only been a couple of decades since even uniforms and boots had to be produced in the US, but now it seems no one cares how dependent we become on others for critical items.
Follow the money.
No green jobs now
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