FINANCIAL TIMES: A gravity-defying leap in the price of Chinese rare earth metals has triggered fears that the cost of components used in a range of goods from mobile phones to hybrid cars could soar.
The three to fivefold jump in prices since January comes after China, the world’s biggest producer of rare earths, has clamped down on domestic output.
The implications could be far-reaching. Although annual consumption of the metals is small relative to that of other commodities, rare earths are found in everything from fluorescent lights to wind turbines. They are very difficult, if not impossible, to substitute… (more)
EDITOR: The Chinese assiduously sought and purchased outright or obtained controlling interests in producers of certain rare earths, thus enabling themselves to drive up the cost of competitive goods while extracting huge practices. Some may say this is a form of economic warfare. Others will look with envy and wish we had done it
