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SurferJoe46
02-02-2012, 09:24 AM
First - the link:: http://www.smartplanet.com/blog/intelligent-energy/wto-rules-against-chinas-rare-earths-stockpiling/12759?tag=nl.e660


China’s rationing of rare earth minerals used in the production of high tech and renewable energy hardware has run afoul of World Trade Organization (WTO) rules. Beijing has time to comply with the ruling before a penalty is assessed.

The European Union, Mexico, and the United States brought a WTO case against China in 2009 on the basis that it was limiting its rare earth exports while reducing prices on the Chinese market. A ruling favoring the complainants was upheld yesterday.

China can be sanctioned if it doesn’t abide by the ruling, which is equivalent to a legal judgment in the United States, said UCLA law professor Richard Steinberg. That process would take up to 18 months, but is an effective deterrent, he added. China joined the WTO in Nov. 2001.

“It was Chinese mercantilism at its best: a straightforward, illegal, aggressive effort to manipulate the global market for raw materials, and they lost appropriately,” Steinberg said. China’s handling of rare earth exports are indefensible and violate trade rules that date back to 1947, he explained.

fred_fish
02-02-2012, 10:28 AM
And if they say "get stuffed"?

I suppose we can buy our plastic reindeer and iPhones from someone else ...

Gobe1
02-02-2012, 11:09 AM
And if they say "get stuffed"?



then they will write them a nasty letter telling them how upset they are... take that china!

gary67
02-02-2012, 01:31 PM
And if they say "get stuffed"?

I suppose we can buy our plastic reindeer and iPhones from someone else ...

They would have to pay me to have an iPhone not the other way round, and I can print my own plastic reindeer if I so wish