Friday, October 22, 2010

China Rare Earth Elements

In my Principles of Economics class, we were recently comparing types of economic systems, particular  Command Economies versus Free Market.  We used the example of natural resource allocation.   I mentioned the trade dispute between Japan and China regarding exports of Rare Earth Elements.  See below story and impact on U.S.:

http://247wallst.com/2010/10/19/china-plans-to-withhold-more-of-rare-earth-elements-us-in-deep-trouble/

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