Distorted logic over rare-earth exports
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Tricky next step [By Jiao Haiyang/China.org.cn] |
Some countries are evidently trying to force China into doing business. In the past few weeks, the US and Japan have been urging China to export more rare-earth minerals. US economist Paul Krugman even rebuked China as "a rogue economic superpower unwilling to play by the rules."
What China is doing is merely seeking to strengthen the regulations surrounding the rare-earth industry, rather than imposing an injunction on rare- earth exports.
China's rare-earth reserves makes up 36 percent of the world's total, but the nation's rare-earth exports totals 97 percent of the global demand.
It has been predicted that China's rare-earth reserves will be wiped out within two decades. Such exploitation and export is obviously unsustainable.
It is countries like the US and Japan that disobey business ethics. According to their mentality, they should be able to buy whatever they need in any volume at any time.
Last year, the US and Europe made a similar accusation of "China's limited exports" of alumina, coke and some other raw materials.
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