China produces some 95% of the world’s rare metals, mostly mined in Mongolia. With its virtual monopoly over the world’s rare earth elements (REE) supply, China is considering banning the export of some and drastically reducing the export of others to ensure sufficient supply for its internal demand. So why do we care?

REEs are essential ingredients in a variety of technologies that we rely on: low energy light bulbs, solar panels, wind turbines, semiconductors, smart phones (yes, the iPhone is included in this list), TVs, hybrid cars, smart bombs, lasers, Stinger missiles to name a few. Many industries will be impacted if such a ban is enforced and that will directly reflect on availability and prices in the short to medium term. The existing smuggling trade will flourish.

The Japanese government already has a “Strategy for Ensuring Stable Supplies of Rare Metals” and Japanese companies are trying to create agreements with countries like Kazakhstan and Indonesia to ensure a steady REE supply for themselves.

In the longer term, the supply of REEs will stabilize once again as private companies that were previously driven out of the market by China will reinvest in their mines to meet the gap.

So China is going to cut supplies and Japan is already hoarding- what are other countries planning on doing?

Related posts:

1. 2009 Gloom & Doom Update: Social Unrest in China
2. stuck in a rut
3. 2009 Gloom & Doom update:batten down the hatches!

One of the side effects of the worsening global economy and unemployment is the increase in suicides and suicide attempts. The numbers of cases (high profile and of “normal people“) being reported has increased significantly.

Asian economies like South Korea, Japan and Hong Kong have all reported increases and are planning for more. South Korea and Japan are installing blockades for railway tracks so people do not jump in front of trains. Hong Kong has increased the numbers of operators for its suicide hotlines.

The US is also experiencing an increase in calls to suicide hotlines in places like New York,  Tampa, Dallas, Washington DC metro area and California. What is far more worrying is the increase in suicide attempts at universities like the University of California, Santa Barbara. Europe is not spared either with countries like Serbia reporting the highest suicide rates in Europe and 55% of the population shows signs of depression.

The global economy is going to get worse over the upcoming months. If anyone you know is showing signs of depression make sure they get help.

Related posts:

1. 2009 Gloom & Doom update: a spot of advice for 2009
2. 2009 Gloom & Doom Update: Protests in Ireland & Latvian Govt Collapse
3. 2009 Gloom & Doom Update: Protests in Germany and Bosnia