Rare earths

摘要

This week America, Japan and the European Union filed a complaint at the World Trade Organisation against China over its restrictions on exports of rare earths, the 17 elements used in many electronic devices as well as in wind turbines and batteries for hybrid cars. China accounts for over 90% of the world's production. Recent trade disputes and the tightening of export quotas (by about 40% since 2009) caused prices to soar. In response, consumers have soughtalternatives and recycled where possible; prices fell last year. China, which holds about half of the world's reserves, argues that the quotas are needed to protect resources and the environment. It also wants to crack down on illegal mines.