Germany is pinning its economic hopes on future-oriented industries such as solar panel manufacturing. But high-tech companies are facing shortages of essential metals as China, which dominates the world market in so-called rare earths, begins stockpiling the highly sought-after resources. A massive gray mountain rises from the vast plains of Inner Mongolia. The artificial hill is the pride of the Chinese and the envy of the world -- at least the world of commodities traders. Workers at the Bayan Obo mine refer to the mound as "Treasure Mountain." Up to 6,000 people work at Bayan Obo, China's largest mine, which is completely inaccessible to the outside world. The Chinese authorities are intent on ensuring that no outsiders should gain access to the craterlike landscape, and for those who do somehow manage the feat, it is akin to arriving on another planet.
Germany is pinning its economic hopes on future-oriented industries such as solar panel manufacturing. But high-tech companies are facing shortages of essential metals as China, which dominates the world market in so-called rare earths, begins stockpiling the highly sought-after resources.
A massive gray mountain rises from the vast plains of Inner Mongolia. The artificial hill is the pride of the Chinese and the envy of the world -- at least the world of commodities traders.
Workers at the Bayan Obo mine refer to the mound as "Treasure Mountain." Up to 6,000 people work at Bayan Obo, China's largest mine, which is completely inaccessible to the outside world. The Chinese authorities are intent on ensuring that no outsiders should gain access to the craterlike landscape, and for those who do somehow manage the feat, it is akin to arriving on another planet.
EUOBSERVER / BRUSSELS - The European Union has asked the World Trade Organisation to rule on a dispute with China over raw materials. The announcement on Wednesday (4 November) is set to further increase the trade tensions between the two sides ahead of an important EU-China summit scheduled to take place later this month. The dispute surrounds Beijing's use of export subsidies and quotas to limit certain raw materials - such as phosphorous, coke, and magnesium - from leaving the country. "China's restrictions on raw materials continue to distort competition and increase global prices, making conditions for our companies even more difficult in this economic climate," said the EU's trade chief, Catherine Ashton.
EUOBSERVER / BRUSSELS - The European Union has asked the World Trade Organisation to rule on a dispute with China over raw materials.
The announcement on Wednesday (4 November) is set to further increase the trade tensions between the two sides ahead of an important EU-China summit scheduled to take place later this month.
The dispute surrounds Beijing's use of export subsidies and quotas to limit certain raw materials - such as phosphorous, coke, and magnesium - from leaving the country.
"China's restrictions on raw materials continue to distort competition and increase global prices, making conditions for our companies even more difficult in this economic climate," said the EU's trade chief, Catherine Ashton.
We envy them because of their massive supply of low skill labor that will work for a dollar a day and for their lack of pesky environmental regulations. That is all great. But to refuse to sell to us just because they deem a resource strategic is un-capitalist. Wonder if they would trade rare earths for gold? As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
