Barack Obama announced that the World Trade Organization is filing a challenge on China’s export restrictions on minerals that are used for High-Tec products. China produces 97% of these minerals so they have a monopoly on this mineral. Having a monopoly enables China to export at any given price because people have to buy it from China if they want it, considering it is the only place to get the mineral. China says that they are rising prices to keep the save natural resources but the US believes that they are going against their agreement to keep prices low.
Sarah Bilton
It will be interesting to see how relations change with China going forward. An increasing amount of people feel that the Chinese are using unfair measures to gain the advantage over America.
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