Limits on Rare Earth Exports Get China in Trade Dispute
VOA News 조회 수 608 추천 수 0 2012.04.10 00:26:37This is the VOA Special English Economics Report , from http://voaspecialenglish.com | http://facebook.com/voalearningenglish
The United
States, the European Union and Japan have called for talks with China under the
dispute settlement system of the World Trade Organization. They want to discuss
China's export limits on rare earth metals and two other minerals. WTO rules
give talks sixty days to work. If they do not settle the dispute, a WTO panel
can then be requested to help reach a settlement.Rare earth metals are used in
the manufacture of almost every high-technology device -- from mobile phones and
computers to batteries for electric cars. And demand is only growing.China says
it follows WTO rules in exporting the minerals. In twenty ten, China mined about
one hundred thirty thousand metric tons of rare earth metals. That was about
ninety-seven percent of world production. But information from China's
government and the United States Geological Survey shows that China has reduced
its export limits sharply in the past two years. Critics say this unfairly helps
Chinese companies in the production of high-technology products. And, they say,
it is a violation of World Trade Organization rules. President Obama explained
why the United States was involved in the case. He said American manufacturers
use rare earth materials to make high-tech products like advanced batteries. "We
want our companies building those products right here in America," he said. To
do that they need access to materials that China supplies. In the president's
words, "If China would simply let the market work on its own, we'd have no
objections." But he said Chinese policies "go against the very rules that China
agreed to follow." China says it has restricted rare earth exports to meet needs
at home. And it says its policy helps limit the environmental damage caused by
over-mining. China now faces a slowing economy. In February, the nation had its
biggest trade deficit in ten years. Experts expect China's central bank to
increase the money supply to aid economic growth. At the same time, inflation
remains a threat. On March fourteenth, Premier Wen Jiabao discussed the need for
reform. China, in his words, "must continue to strike a balance between
maintaining steady and robust economic development, making economic structural
adjustments and managing inflationary expectations." For VOA Special English,
I'm Alex Villarreal. Get more business news and learn English at
voaspecialenglish.com.
(Adapted from a radio program broadcast
16Mar2012)
원문출처 : http://www.youtube.com/watch?v=nhOaV0K-KPw&feature=youtube_gdata
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