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Home/ IB Econ 12 (1)/ Contents contributed and discussions participated by Thomas Austen

Contents contributed and discussions participated by Thomas Austen

Thomas Austen

China to continue rare earth protection|Policies|chinadaily.com.cn - 0 views

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    China is continuing to protect its rare earth minerals. It's important to note that China holds nearly 97% of all rare earth's in the world. These rare minerals are needed for many manufacturing ventures. China will increase its regulation on rare earth production to prevent any further externalities.  The article outlines a plan against free trade. Yet, stirs arguments about China's possible attempt to monopolize the industry. The United States, for instance, argues that China's export tariffs are too high, and that they inhibit America's domestic production of needed goods. China argues back that it's an environmental issue.  Countries who rely on technological progress will be hurt by this protection. The minerals are needed for cell phones, wind turbines, missiles, and many other high-tech products. If protection continues, prices will rise, thus lowering the advancement in that sector for many economies around the world. In China, however, less exports mean more jobs domestically. Also more supply domestically. And lastly, the environmental concern of China can further improve the standard of living for citizens whilst cutting down the pollution levels. 
Thomas Austen

Poverty hitting 50-year highs in N.J. - 0 views

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    With the mentioning of New Jersey being one of the richest states in the richest country, poverty here is assumed to be relative. While these people may be in unfortunate circumstances, they are still capable of survival due to their surroundings. A major cause may be a result of the recession, assuming the under water housing market. The most blatant consequence is an unequal distribution of wealth. Another is a significant decrease in health care. 
Thomas Austen

Economic Reports Ease Concerns in China - NYTimes.com - 0 views

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    In August, China experienced their highest trade surplus of the year. With an increased interest in global nations, it is a teller of China's currently well-controlled inflation rate. If the rate of goods remains consistent, the greater interest of importers could dig China out of the domestic debt hole they're currently in. With a healthily increasing inflation rate, like anywhere, China is experiencing higher wages, and higher domestic consumer prices. All in all though, the positive direction the net exports are moving in gives us a sense of the ideal, well-managed, increasing inflation rate in China.
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