China clean tech's rare-earth advantage
In the race to build hybrid cars and wind turbines to feed growing demand for green technology, China has one clear advantage: it holds the world's largest reserves of rare-earth metals and dominates global production.
Wind turbines, made by No. 2 wind turbine maker Xinjiang Goldwind Science and Technology, and hybrid cars, being developed by Warren Buffett-backed Chinese automaker BYD, are among the biggest guzzlers of rare-earth minerals, which analysts say are facing a global supply crunch as demand swells.
This little-known class of 17 related elements is also used for a vast array of electronic devices ranging from … Read more