Monday, August 30, 2010

Notice... the finanacial media and cogniscenti of the world has identified the Paper Dragon as one of the world's balance points. The end of the beginning for its decline.

years from now, Africa and Central America/the Andean region will be similar flash points for the media to "discover".

Backlash over China curb on metal exports

China's draconian export curbs on rare earth minerals needed by the
rest of the world for frontier technologies is escalating into a
serious diplomatic and trade clash with the United States and other
leading powers.

By Ambrose Evans-Pritchard
Published: 9:52PM BST 29 Aug 2010

Japan's foreign minister Katsuya Okada issued what amounted to a
formal protest at top-level meeting with Chinese officials in Beijing over the weekend, saying the sudden cut-off was "affecting the global production chain".

It is the latest sign of rising pressure after angry complaints by
companies outside China that rely on this family of 17 metals for
hybrid cars, mobile phones, superconductors, navigation, and a host of high-tech industries.

China's commerce minister Chen Deming said that Beijing would not back down over the export quotas. "Mass-extraction of rare earth will cause great damage to the environment, that's why China has tightened controls," he said, repeating the official line.

Beijing set off shockwaves in early July when it announced a 72pc
reduction in rare earth exports over the second half of this year. The country has acquired a near monopoly, with 97pc of global output after under-cutting the rest of the world with Mongolian ores in the 1990s. The sudden cut-off since July has drastically restricted supplies to
the rest of world.

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