Chinese Monopoly

2012-03-13

This is Frank Gaffney with the Secure Freedom Minute. In recent years, Communist China has gained a monopoly with alarming strategic implications. It controls the world’s supply of exotic metals critical to modern electronic devices and economies. They are known as Rare Earth Minerals and the PRC controls roughly 95% of their sources. The Chinese have been using this monopoly as a weapon against high-tech businesses in Japan, Europe and the United States. Among those affected h...

This is Frank Gaffney with the Secure Freedom Minute.

In recent years, Communist China has gained a monopoly with alarming strategic implications. It controls the world’s supply of exotic metals critical to modern electronic devices and economies. They are known as Rare Earth Minerals and the PRC controls roughly 95% of their sources.

The Chinese have been using this monopoly as a weapon against high-tech businesses in Japan, Europe and the United States. Among those affected have been companies that produce flat screens, computer parts and weapon systems for the U.S. military.

The Chinese are also using assured and relatively low-cost domestic access to their rare earths as a means of luring Western enterprises to move to China. The matter is headed to the World Trade Organization. But in the meantime, American economic competitiveness and national security are being imperiled.

This is Frank Gaffney with the Secure Freedom Minute. Learn more at SecureFreedomRadio.com.

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