BEIJING is at the forefront of expanding export restrictions on critical minerals that are restricting the availability and raising the price of raw materials needed for a green energy transition, according to report from the Organisation of Economic Cooperation and Development (OECD), reports London's Financial Times.
More than 13,000 restrictions had been implemented by the end of 2020, a fivefold increase in more than a decade that means a 10th of the global value of critical raw material exports face at least one such measure.
The OECD said that since 2020, the latest detailed analysis available, even more restrictions had been introduced. The findings underline that fragmentation in the global economy threatens to drive up the cost of the clean-energy transition and indicates the potential shift in power away from the industrialised west towards mineral-rich nations.
'The research so far suggests that export restrictions may be playing a non-trivial role in international markets for critical raw materials, affecting availability and prices of these materials,' said the OECD report. 'This situation warrants further scrutiny.'
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More than 13,000 restrictions had been implemented by the end of 2020, a fivefold increase in more than a decade that means a 10th of the global value of critical raw material exports face at least one such measure.
The OECD said that since 2020, the latest detailed analysis available, even more restrictions had been introduced. The findings underline that fragmentation in the global economy threatens to drive up the cost of the clean-energy transition and indicates the potential shift in power away from the industrialised west towards mineral-rich nations.
'The research so far suggests that export restrictions may be playing a non-trivial role in international markets for critical raw materials, affecting availability and prices of these materials,' said the OECD report. 'This situation warrants further scrutiny.'
SeaNews Turkey