Beijing is set to end the use of quotas to regulate the export of rare earth minerals, The Wall Street Journal reported, citing China’s Commerce Ministry. The quotas became a global trade issue after China slashed exports in 2010, driving up prices thanks to its then near-monopoly on developed mines for the minerals, which are key components in many high-tech industries ranging from smartphones to missile systems. The shift comes after Beijing lost a dispute at the World Trade Organization in 2013, but the policy also proved of little value as many countries found other sources for the materials.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved