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  • Author: Joseph de Weck
  • Publication Date: 05-2020
  • Content Type: Commentary and Analysis
  • Institution: Foreign Policy Research Institute
  • Abstract: Do you want to know how Beijing would like Europe to act? Take a look at Switzerland. Switzerland and China have been close for decades. It was the first Western nation to establish diplomatic relations with the People’s Republic of China (PRC) in January 1950. Bern wanted to protect investments in the new People’s Republic from nationalization and hoped Swiss industry could lend a hand in rebuilding China’s infrastructure after the civil war. Being friendly to China paid off, but only 30 years later, once reformer Deng Xiaoping took the reins of the Chinese Communist Party (CCP). In 1980, Swiss elevator producer Schindler was the first foreign company to do a joint venture in China. Today, Switzerland is the only continental European country to have a free trade agreement (FTA) with China.
  • Topic: International Relations, Foreign Policy, International Trade and Finance, Treaties and Agreements, Bilateral Relations
  • Political Geography: China, Europe, Asia, Switzerland, Sweden
  • Author: June Teufel Dreyer
  • Publication Date: 10-2020
  • Content Type: Commentary and Analysis
  • Institution: Foreign Policy Research Institute
  • Abstract: According to geologists, rare earths are not rare, but they are precious. The answer to what appears to be a riddle lies in accessibility. Comprising 17 elements that are used extensively in both consumer electronics and national defense equipment, rare earth elements (REEs) were first discovered and put into use in the United States. However, production gradually shifted to China, where lower labor costs, less concern for environmental impacts, and generous state subsidies enabled the People’s Republic of China (PRC) to account for 97 percent of global production. In 1997, Magniquench, then-America’s leading rare earths company, was sold to an investment consortium headed by Archibald Cox, Jr., son of the same-named Watergate prosecutor, with two Chinese state-owned metals firms, San Huan New Materials and China National Nonferrous Metals Import and Export Company. The chairman of San Huan, son-in-law of paramount leader Deng Xiaoping, became chairman of the company. Magniquench was shut down in the United States, moved to China, and reopened in 2003, where it fit in well with Deng’s Super 863 Program to acquire cutting-edge technologies for military applications, including “exotic materials.” This left Molycorp as the last remaining major rare earths producer in the United States until its collapse in 2015.
  • Topic: International Trade and Finance, Natural Resources, Exports, Supply Chains
  • Political Geography: China, Asia