An Australian regulator has
foiled what seems to be a thinly-veiled attempt to tighten China's
already-strong grip on the world market for rare earth metals.
A Chinese company has abandoned plans to take control of the rare-earths explorer Lynas Corporation Ltd after Australian regulators demanded it reduce the scope of the planned transaction.
Market observers say the deal was an example of China's bid to tighten its grip on the rare earths market.
Almost all of the world's rare earths are produced in China.
This reminds me of the time that Russia tried to
buy all of Libya's oil and gas. That wouldn't have been good news for Europe. This is a good reminder that there is no infallible anti-trust regulator of last resort in world capitalism.
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