China to Globe: “No More Rare Earth”

Bloomberg reports that China is cutting back 72% of its exports of Rare Earth metals. China has said that environmental issues are the reason for the cutbacks.

72% drop in availability of any commodity is important. RE’s are important. I am no expert in this but I believe that RE metals are needed in most things we make and consume. From cars to cell phones. Some more informed comments on the importance of RE would be most welcome.

Japan and the US are already protesting the ban. The rest of the world’s manufacturing base will soon follow. This could become an interesting row.

And all those folks were saying that China would be the world’s economic growth engine. Not.