Over the weekend, China reportedly pledged to continue supplying Japan and other countries with rare-earth metals, and assured the U.S. it will no longer withhold exports of the important resource.
China disrupted supply of the minerals to Japan in late September during a territorial dispute that soured relations between Asia’s two largest economies. Throughout the five weeks of the embargo that followed, Beijing denied there was a ban, even as the nation expanded the shipping halt to include the United States and Europe.
The episode alarmed companies around the world that depend on rare earths, which are used to make a wide range of high-tech products, including smartphones and smart bombs. China currently controls almost all of the world’s supply of rare earths, for which demand is soaring.
In this context, we like to know what you think: China is holding the world hostage over rare earth minerals? Share with us your thoughts in the poll below.