Breakingviews - China aims rare earth bazooka at trade rivals [Reuters]
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Source: Reuters
Breakingviews - China aims rare earth bazooka at trade rivals | Reuters 3 Min Read HONG KONG (Reuters Breakingviews) - Beijing is limiting its output of rare earths, according to Adamas Intelligence. That tackles lingering oversupply of the tough-to-mine minerals, but could easily also starve foreign buyers of key ingredients like cerium and neodymium, used in catalysts, electronics and weapons - a drastic trade war escalation that would punish profit margins. An overdue rush to develop new supply outside China, though, will come too late. The dominance of the rare earths’ market by the People’s Republic encapsulates a lot of what trading partners worry about. The elements, common throughout the earth’s crust but tricky to extract, were perceived as strategic two decades ago by leader Deng Xiaoping, who compared it to the Middle East’s oil bounty. He instructed Chinese state-owned companies to dig deep, and they did - assisted by a horde of smaller private miners that drilled in haste
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