By the fundamental concept of consumer and supplier equilibrium a commodity is considered limited in supply when the consumer's demand exceeds the available supply of any given product. The issue of China's rare earth minerals emerge due to the need of the commodity to a certain technological ingredient needed to finish a product. This need will give China a greater value to the market of the given product. But if the consumers of the product will divert its sources of supplies or alter the chemical component of the rare minerals, the importance of it will gradually decline and to a certain time the need and value will eventually disappear.
Economic dominance is only present when you are still needed in the market. The word "need" broadly considers the technological advancement of production, and acceptance of society due to trends and cultural norms. If we can change the market behavior to decrees the consumption of these rare minerals then its importance to the world market will be neutralized.
Continued studies and research are the components of evading China's market importance. Labor in China is cheap but the productive quality of human resources are hampered due to political policies and market monopolies. Chinese migrants in US are mostly staying in US for good due to the rich freedom of knowledge to question and discover new ideas for the society's greater good. China's technological advancement can be called only as "technological mass production", the reason for this notion depicts the nature of Chinese and American cultural origins.
Discoveries can be obtained when your thinking is free. But without free thinking, only monopolistic act can be executed to create market dominance. The natural concept of innovation cannot be altered by any need of "rare minerals" or other market manipulation.
The spirit of innovation comes from the society's natural freedom to think and to decide in a logical manner. America's spirit of freedom still holds the definition of innovation were people's accumulated knowledge builds the advancement of America's innovation.
http://www.ibtimes.com/articles/358061/20120629/china-rare-earth-minerals-monopoly.htm
Comments