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as shown at Fig-1.The same can be inferred from Table-1 showing the production of rare earth from 1983-2003.The geographical location of major rare earth mines are shown at Fig-2.China, which produced 120,000 tonnes or 97% of world output of rare earths in 2009, is undeniably the largest producer of rare earths globally, with India trailing far behind at a distant second place producing only around 2% of the global output(Humphries,6),(Rare Metal Mining, Nov 7,2010). The Baotou’s Bayan Obo mines in Inner Mongolia of China, containing 40,000,000 tonnes of rare earth oxides hold the largest estimated deposits of rare earths in the world, producing 55,000 tonnes of rare earths annually, which is more than 50% of rare earths presently extracted in China. Neodymium and Lanthanum are produced from left-overs of iron ores at these mines(Forbes.com). The US company Moly Corp at Mountain Pass, California is the topmost rare earth producing plant outside of China, with 6 tonnes daily output of rare earth oxides which approximates to 40-67% of rare earths extracted outside of Chinese mainland(Lifton J, Rare Earth Crisis-Part-1).
China, Japan, Korea and the EU are supposedly following a policy of maintaining reserves of rare earths. The European Union has identified as strategic and critical, 40 metals for safeguarding and stockpiling purposes( Lifton J, Rare Metals,5).China, has only recently embarked upon a similar policy of establishing and maintaining rare earth reserves to stabilize their prices. It has been reported that China has plans to store 200,000 tonnes of rare earth oxide reserves spread over 10 strategically located reserves(Deloitte,3). China appears to have become concerned about its rising domestic consumption of rare earths, fuelled by rapid industrialization of its metallurgical sector and consumer demands in varied other sectors such as wind turbine, and electronic goods such as cell phones, laptops and in green energy technologies.
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Moreover, there are assumptions that the economic globalization or integration of nationally based economics to form a single international economy via foreign direct investment, trade or capital flow or technology spread (Appadurai, 2000; Garrett, 2000).
Today’s information advances and the globalized economy have deeply and permanently reshaped the economic, educational, political, and social setting of the world. The once limited, slow, and conservative tempo of societal transformation has now become borderless, fast, and far-reaching.
Because of their scarcity in the environment and their vital use, this paper highlights the importance of these rare earth’s minerals to the United States and why it should create its own resources or mines. The discovery of “ytterbite”, a black mineral, in 1800 made the existence of the rare earth minerals known to the world.
This paper explores concepts of globalizations and economic systems. Concept of globalization One of the fundamental concepts of globalization is its interconnectivity of different aspects across the globe, a feature that identifies shared characteristics that are transferred across developed international networks.
It is a common knowledge that the size of the economy relies on the volume of exports and imports of and the corresponding nature of such commodities. Rare minerals are some of the crucial resources that influence the economic structures of different countries and China is not an exceptional.
Globalization is simply an international process which arises from interchanging of products, ideas, world views and many other aspects of culture. This process has an effect on the culture, on the environment, on the political system, on the prosperity and development of the economy and also on the well being in the societies around the whole world (Globalization101, 2012).
The proposed research study would facilitate the comprehend the prevailing scenario of global supply chain and the influence received by it owing to the influences of IT and globalisation with reference to FedEx. The research proposal has been designed to make a proper framework of research which can be followed and hence implemented for further processing of the proposed study. In order to complete this proposed research, a research question has been prepared for the proposed study.
The theory begins to indulge the human mind by claiming that all biological processes and/or systems are connected and interconnected. It is this theory’s belief that the temperature, atmospheric content, and the salinity of the ocean are controlled
For instance, globalization is essential for organizations because it enhances cultural integration and appreciation. This arises when students or workers admitted embrace different cultural backgrounds and they can freely share and
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