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There are 17 rare earth metals, and their production is a complex multi-stage process. Exports may be in the form of ores or goods at any stage including mined rare earth ores (all containing a tiny mix of rare earths), refined ore concentrates, refined highly pure metals, or products incorporating refined metals (car li-on batteries, magnets or magnet incorporating windmill generators).
The canal was cleared in 1974 and opened again in 1975 [9] after the 1973 Yom Kippur War, when Egypt tried to take back the Sinai. [10] [11] OAPEC countries cut production of oil and placed an embargo on oil exports to the United States after Richard Nixon requested $2.2 billion to support Israel in the war. Nevertheless, the embargo lasted ...
The abundant resource that have comparative advantage realizes an increase in income, and the scarce resource realizes a decrease in its income regardless of industry. This trade theory concludes that some people will suffer losses from free trade even in the long-term.
While most years China's agricultural production is sufficient to feed the country, in down years, China has to import grain. Due to the shortage of available farm land and an abundance of labor, it might make more sense to import land-extensive crops (such as wheat and rice) and to save China's scarce cropland for high-value export products ...
The dialectic of scarcity and surplus gradually begins to invert itself: the problem of optimal allocation of scarce resources begins to give away to the problem of the optimal allocation of abundant resources. High productivity leads to excess capacity: more resources can be produced than can be consumed, mainly because buying power is lacking ...
In late 2021 and early 2022, Lithuanian businesses saw their cargo shipments to and from China stranded, and they were warned by major European businesses that Lithuanian-made auto parts would be ...
The resource curse, also known as the paradox of plenty or the poverty paradox, is the hypothesis that countries with an abundance of natural resources (such as fossil fuels and certain minerals) have lower economic growth, lower rates of democracy, or poorer development outcomes than countries with fewer natural resources. [1]
Hoarding resources can prevent or slow products or commodities from traveling through the economy. [4] Subsequently, this may cause the product or commodity to become scarce, causing the value of the resource to rise. A common intention of economic hoarding is to generate a profit by selling the product once the price has increased.