WTO Rules China’s Export Controls on Critical Metals Illegal
“The ruling is a huge victory for the U.S. as well as for all global high tech, military, automotive and alternative energy manufacturers.”
I’m not so sure — even though the ruling correctly restrains China from one of its predatory practices.
The US needs a ‘Strategic Rare Earths Reserve’ similar to the Strategic Petroleum Reserve since these metals are so important for missile guidance systems as well as many other military items. This ruling will probably kill any such initiative.
This ruling may also allow CA environmental radicals to try to stop the mining of rare earths in Mountain View, CA, which is just getting underway.
Remember, when China had a ‘fishing boat’ incident recently w/ Japan over the Senkaku Islands, it immediately blocked the export of rare earths to Japan which, of course, needed them for its high tech manufacturing. W/o a US strategic reserve, China can similarly threaten the US.
