Global political economy of rare earths: changing positions of major market actors including China, European Union, Japan and United States

2019 5th International Conference on Energy Materials and Environment Engineering

能源学;生态环境科学

Yan, Guangli^1^2 ; Zhongxue, L.I.^1

School of Civil and Resource Engineering, University of Science and Technology Beijing, Beijing

100083, China^1

Jiangxi University of Science and Technology, Ganzhou

341000, China^2

关键词: European union;    Global demand;    New sources;    Policy measures;    Political economy;    Research and development;    Scarce resources;    Supply disruption;   

Others  :  https://iopscience.iop.org/article/10.1088/1755-1315/295/5/052022/pdf
DOI  :  10.1088/1755-1315/295/5/052022

学科分类：环境科学（综合）

来源: IOP

【 摘 要 】

The availability of rare earth elements became a global concern in 2010 when prices soared after China restricted exports of these metals. What measures can or should states or companies adopt to secure a supply of certain scarce resources where the control of the supply is dominated by only a few nations? This problem is becoming increasingly urgent in the case of rare earths because the global demand for these minerals continues to increase. We investigated the policy measures that countries that are major consumers of rare earths have taken when facing supply disruptions, including China, the European Union, Japan, and the United States. We found that strengthening research and development (R&D) and innovation became the first choice of these countries; in addition, market solutions helped to mitigate the supply risk. The supply disruption caused by China's restrictions on the export of rare earths in 2010 dissipated a year later; this was caused by recycling and more efficient use of these metals and by initial steps to create new sources or alternative products. This event illustrates that both R&D and innovation are the most important elements related to industrial success rather than administrative interventions.