As the economic downfall is continuing, it seems like one country in particular is trying to create a global dominance. For a long time, people thought the United States of America was the global leader, but it appears that now China is trying to come out on top.
According to Google News, hostility continues between China and Japan as the latter nation accuses China of creating a moratorium on rare earth mineral exports. These rare earth minerals are used to make advanced technology products such as cars and the iPad. The shipments from China are still in limbo right now, but China has denied creating any sort of embargo to stop shipments from going to Japan. For right now, it appears the relationship between China and Japan is fractured until China resumes shipments of these rare earth minerals.
China is attempting to establish economic dominance in the region and possibly the world by icing Japan out of this major market. China controls 95 percent of the global market and has been trying to create even more control over the markets lately. I do feel that China is using the rare earth minerals as a way to create an economic dominance in the world because these minerals are very important. These minerals are used in everything from the iPod to cars and every other technological creation in between. Without these exports from China, it would seem that Japan and America would not be able to create these high-tech products.
It almost seems like China is trying to use these rare earth minerals to assert itself as the global market leader by force. Since we all use these minerals to create products, China knows they have control over the markets. It seems to me like China is almost using a blackmail type of behavior to get each country to realize their economic dominance, or else the rare earth minerals will not be shipped out. If you ice out America and Japan from this market, you have essentially made yourself the dominant leader in the economic market. Without these minerals, we would not be able to create or buy these high-tech gadgets, which China knows and it is exploiting the need for their own economic gain.
Consumers outside of the Pacific feel very negative toward China’s apparent refusal to export valuable minerals. China already holds 95 percent of the global market, so it appears like they are becoming greedy by holding these minerals back. If China wants to assert itself as an economic leader, then they should import and export minerals and products to keep the economy flowing smoothly. By China holding these minerals back, they know it gives them the ultimate power in the market, and we would have to follow their rules. People are looking at this hold on rare mineral shipments to Japan as a warning sign that China is trying to become the next world superpower in the economic market. It seems like, by China refusing to export these minerals, they are forgetting which people create the products and buy the products. It also seems like a slap in the face to both Japan and America, who have long been an integral part of the economic market. I believe that, in the end, China will become the major economic superpower and they will have full control over the markets because they hold so much of America’s debt. Without China, a lot of people in America and Japan would be out of work, and I believe they are going to use their economic market control to their advantage.
AFP, “Japan says China still blocking rare earth exports”, Google News