http://www.nytimes.com/2009/09/01/business/global/01minerals.html?_r=1&ref=business HONG KONG — China is set to tighten its hammerlock on the market for some of the world’s most obscure but valuable minerals Some of the minerals crucial to green technologies are extracted in China using methods that inflict serious damage on the local environment. China dominates global rare earth production... [more]
http://www.nytimes.com/2009/09/01/business/global/01minerals.html?_r=1&ref=business
HONG KONG — China is set to tighten its hammerlock on the market for some of the world’s most obscure but valuable minerals
Some of the minerals crucial to green technologies are extracted in China using methods that inflict serious damage on the local environment. China dominates global rare earth production partly because of its willingness until now to tolerate highly polluting, low-cost mining.
China produces over 99 percent of dysprosium and terbium and 95 percent of neodymium. These are vital to many green energy technologies, including high-strength, lightweight magnets used in wind turbines, as well as military applications.
To get at the materials, powerful acid is pumped down bore holes. There it dissolves some of the rare earths, and the slurry is then pumped into leaky artificial ponds with earthen dams, according to mining specialists.
Toyota and General Motors, which plans to introduce the Chevrolet Volt next year with an electric motor that uses rare earths, both declined on Monday to comment.
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Response by NYRENewbie
about 17 years ago
Posts: 591
Member since: Mar 2008
China is selling out its own people in the long run for the sake of a quick buck now. Having lived there as an expat for several years, I have experienced the pollution first hand resulting in a magnitude of health issues for its people. This is not just a problem for China but for the world. Most of Asia depends on the rivers that China pollutes, the crops grown with polluted water. With most of the world's population centered in China and India this is a worldwide catastrophe. We are worrying about oil running out, how about air and water?
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Response by Riversider
about 17 years ago
Posts: 13573
Member since: Apr 2009
NYRENewbie
Good Points. I have friends in China. I understand the smog in Beijing is intollerable. On another issue, the growth stories about China are not to be believed. They count GDP in China based on production and not consumption. With so much of China's economy generated by State Run Oil Companies, it will be interesting to see if this can be sustained. You can see the daily tug of war on this concept by watching world oil prices.
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Response by malthus
about 17 years ago
Posts: 1333
Member since: Feb 2009
It won't be sustained and we will feel the repercussions here. Their consumption is driving the world's commodity markets right now and it is based in part on stimulus funding given to banks to make loans. The banks starting cutting back and the stock market dropped 6% in a day. Its pretty opaque but when all is said and done I have a feeling their banks are going to make ours look like models of propriety.
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Response by alanhart
about 17 years ago
Posts: 12397
Member since: Feb 2007
It's a shame they didn't stick with Communism, when everyone rode bicycles and lived simply, and the great Chinese peasant ruled supreme.
China is selling out its own people in the long run for the sake of a quick buck now. Having lived there as an expat for several years, I have experienced the pollution first hand resulting in a magnitude of health issues for its people. This is not just a problem for China but for the world. Most of Asia depends on the rivers that China pollutes, the crops grown with polluted water. With most of the world's population centered in China and India this is a worldwide catastrophe. We are worrying about oil running out, how about air and water?
NYRENewbie
Good Points. I have friends in China. I understand the smog in Beijing is intollerable. On another issue, the growth stories about China are not to be believed. They count GDP in China based on production and not consumption. With so much of China's economy generated by State Run Oil Companies, it will be interesting to see if this can be sustained. You can see the daily tug of war on this concept by watching world oil prices.
It won't be sustained and we will feel the repercussions here. Their consumption is driving the world's commodity markets right now and it is based in part on stimulus funding given to banks to make loans. The banks starting cutting back and the stock market dropped 6% in a day. Its pretty opaque but when all is said and done I have a feeling their banks are going to make ours look like models of propriety.
It's a shame they didn't stick with Communism, when everyone rode bicycles and lived simply, and the great Chinese peasant ruled supreme.
but then women would have turned to witchcraft.
I like the Chronicle of Higher Ed's take on the problem:
http://chronicle.com/article/We-Are-All-Madoffs/48182/
Gotta pin down that standard of living right now!
and this impacts sales of NYC real estate how?