China’s Uncompetitive Trade Policies

17 May, 2011 at 09:07 | Posted in China, Economy | Leave a comment
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By Heide B. Malhotra
Epoch Times Staff

China is aggressively pursuing the control of world trade, becoming more and more transparent in its effort to steamroll anything that threatens its ambitions.

The race for control is already well on its way. At this time, China already controls almost all of the world’s trade of rare earth metals.

“China controls about 95 percent of the global trade for the 17 minerals that collectively make up the rare earth metals market,” according to a 2011 article on the Fellowship of the Minds website.

It is not that China acquired the world’s rare earth metal mines, as they are on Chinese land, but it makes every effort to acquire mines in other countries. Then again, rare earth metals are found in the United States, in Canada, and according to the Pentagon, in Afghanistan. But only China is willing to mine these metals, while the others are not. The exorbitant production cost is claimed as the main reason.

Financial gurus suggest that China’s control of the rare earth metal trade “is mostly a result of low Chinese wages and lax environmental controls having made it unprofitable to mine the elements in other countries,” according to The Local, Germany’s English language local newspaper.

Read more: China’s Uncompetitive Trade Policies | China | Epoch Times

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