Don’t forget to Thumb us and Subscribe! Follow us on TWITTER: twitter.com Become a Fan on FACEBOOK: on.fb.me China’s new 『Rare Earth』 policy limited its export quotas for rare earth metals. In addition, China asked for a majority share in foreign joint mining industries. Foreign investors believe that China has an obvious intention to monopolize the rare earth market. Experts are concerned that China’s rare earth policy would become a problem. Rare earth metals are non-renewable strategic resources, which are widely used in national defense, aviation, electronics, IT, nuclear and green economy industries. China has 36% of world’s total rare earth reserves while providing 95% of world’s total production. Some foreign countries are concerned that their technology industries would be influenced, once the rare earth export is limited. Dean Cheng of Asian Research Center at DC based think-tank, Heritage Foundation, told VOA: “America is not only concerned that China will gain its own economic and trading interests by controlling rare earth supply, but also fears that it will exert political and safety impact by using this advantage.” He is even more worried that China will use rare earth trade as a bargaining chip, which might become a problem in the future. Voice of America said, that 4 US senators wrote to the Secretary of Treasury, Geitherner, and the Secretary of the Interior, Salazar, suggesting that American executive authorities should stop China’s mining projects …
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