Japanese industry minister Masayuki Naoshima asked Chinese Minister of Industry and Information Li Yizhong and Commerce Minister Chen Deming for reductions to this year's export quota to be reversed in a meeting at the “Japan-China high-level economic dialogue” of economic ministers in Beijing.
Naoshima told the Chinese ministers: “In the second half of this year alone, the export quota is being reduced by 70 percent. The reduction is too sharp.”
The Japanese side repeated the request at the main session of the conference, with all economy-related ministers from both countries present.
But China, which produces more than 90 percent of the world's rare-earth metals, refused to budge on its policy of limiting access.
China on Saturday rejected a request from the Japanese government not to cut exports of rare-earth metals that are vital to the production of a wide range of electrical products, such as hybrid vehicles and liquid crystal displays."If ya can't party with the big boys, don't show up." -- Andrew 'Dice' Clay