China has said it will cut exports of rare earth minerals by 10% in 2011.
World manufacturers are heavily reliant on China for these minerals, which are essential for making many electronic goods, such as TVs and PC monitors.
China has 97% of the world's known supply of the goods. The US mined none last year.
Rare earth minerals have been a thorny trade topic for some time, and China has previously promised not to cut supplies drastically.
http://www.bbc.co.uk/news/business-12088195
Maybe instead of bitching about this they should invent another process for manufacture.
Japan has a stock of said rare metals, the number of which they have not disclosed.
So probably a fair bit. Japan's economy could do with the boost, too.
Honestly doesn't this sound like captialism? Supply and demand, if you control the supply and the demand exists then you are in the drivers seat. Just like OPEC.
Quote from: Charley Brown on December 29, 2010, 05:21:49 PM
Honestly doesn't this sound like captialism? Supply and demand, if you control the supply and the demand exists then you are in the drivers seat. Just like OPEC.
China decided over the past 20 years that Capitalism was A-OK, as long as the whole country does it at once - Communism style.
Other companies that produce rare earths have been seeing their stock go through the roof.
http://www.marketwatch.com/investing/stock/MCP
http://research.scottrade.com/public/stocks/snapshot/snapshot.asp
http://research.scottrade.com/public/stocks/snapshot/snapshot.asp
5. Profit.
Quote from: Telarus on December 29, 2010, 10:23:20 PM
Quote from: Charley Brown on December 29, 2010, 05:21:49 PM
Honestly doesn't this sound like captialism? Supply and demand, if you control the supply and the demand exists then you are in the drivers seat. Just like OPEC.
China decided over the past 20 years that Capitalism was A-OK, as long as the whole country does it at once - Communism style.
To be honest, pretty much the entire Western world follows this exact same model, so I can see how they would get confused.
Quote from: The Poster With No Name on January 01, 2011, 05:09:54 PM
Quote from: Telarus on December 29, 2010, 10:23:20 PM
Quote from: Charley Brown on December 29, 2010, 05:21:49 PM
Honestly doesn't this sound like captialism? Supply and demand, if you control the supply and the demand exists then you are in the drivers seat. Just like OPEC.
China decided over the past 20 years that Capitalism was A-OK, as long as the whole country does it at once - Communism style.
To be honest, pretty much the entire Western world follows this exact same model, so I can see how they would get confused.
:lol: