Asia Bizz: China Blocks Major Exports To Japan, Tensions Rise
China has blocked major exports to its neighbor Japan, as tensions in the east have been rising. Tensions rose after Japan detained the captain of Chinese fishing trawler in its country. One of the main exports that have been blocked by China are rare elements that are used in making hybrid vehicles, wind turbines and guided missiles.
Chinese government officials have stated that these elements are rare earth elements, and they have stopped these elements to be loaded on the shipments to Japan. The Chinese Prime Minister himself has asked for the release of the captain of the trawler who was caught fishing in the area claimed to be Japan’s.
China has refused to comment about the ban of exports of rare earth elements to Japan, as the matter is totally in the hands of the government. China is an export giant and clusters most of the rare earth element of the earth, plus it exports some 95% of the rare earth minerals that is needed by the world, some 99% of the rarest of all the minerals to the global industries.