International News
China Believed To Seek Monopolist Status By Cutting Rare Earth Metal Exports
The UK's Times (3/9, Lewis) reports, "China has triumphed in a 15-year quest to become the 'ultimate monopolist' in the supply of rare earth metals - a dominance that industry experts say could give Beijing control over the future of consumer electronics and green technology." Industry watchers "believe that with China dramatically cutting its annual rare earth export quotas, the time may be rapidly approaching when it will be impossible for any company to produce a wind turbine or hybrid electric car outside the communist country." The article notes, "after a long, relentless campaign of price wars and export quota reductions, more than 95 per cent of the global supply of rare earth metals - a group of 17 'lanthanide' elements employed in hundreds of technologies ranging from mobile phones and BlackBerrys to lasers and aviation - is produced by China."
