China loses an appeal on WTO on
exports of rare earth materials. This was the cases brought by United States in
the Japan and European Union to Challenge China’s export of rare earth
materials restriction. This was according to the WTO body ruling.
“China have not declared the exact
export quota to various rare earth forms, molybdenum and tungsten by virtue of
measurements should be justified” the conclusion said on the document’s.

China generates almost 100
percent of the world’s minerals or metal (rare earth), these materials were
the key elements used in all defense industry and the manufacture of modern technology,
disk drives, IPhones and turbines. WTO imposed strict quotas to rein in pollution
and preserve natural resources. (article here)
The prices of rare earth
materials soared a hundreds of percent, leading European Union, Japan and
United States to complain that has been given to Chinese Companies a
competitive edge in products such as hybrid battery car, energy lighting and
wind turbines.
China’s defeat was expected after
it lost in a analogous case over exports on other commodities, with the WTO
ruling China were obliged to cancel export quotas.
No comments:
Post a Comment