Monday, March 25, 2013
Japan Rare Earth Deposits
In the 1990s China began hoarding deposits of rare earth minerals so that it could force foreign investors to set up factories there to process and mine them- this is one of the most major forces behind the lagging of industry in the western world.
Japan seems to have had the incredible luck to save both its own sagging economy as well as the industry of the west through trade- through the discovery of a supposedly massive amount of rare earth deposits underwater around several of its islands.
Giving a rough estimate, this deposit area is supposedly so concentrated and large that a single ship load of this material could supply more than half of Japan's demand for an entire year- scaling this upwards Japan could replace China fairly quickly and in turn take 90% of the world supply, which would create a massive number of jobs and cut out the Chinese, whose own manufacturing is reliant on its own rare earth.
A major victory for the Japanese, and good news for the west as well.