Abstract
This paper addresses the issue of mineral resources’ governance and trading rules. In doing so, it takes a closer look at the 2012 World Trade Organization (WTO) case pertaining to Chinese exportation quotas of rare earth elements and other minerals. It argues that the current governance system based on national responsibility over resources control and global trading rules is not well adapted to a sustainable and fair management of mineral resources, and concludes by suggesting two paths towards a better governance of such resources.
Highlights
The World Trade Organization (WTO) deals with the global rules of trade between nations
The point of this paper is to argue that the trade of mineral resources in particular illustrates some deeper shortcomings of the WTO
The WTO case on export restrictions for rare earth elements (REE) and other materials highlights features that are common to all mineral resources but become even more critical when dealing with strategic materials
Summary
The World Trade Organization (WTO) deals with the global rules of trade between nations. The delicate rulings in cases involving mineral resources will be used as an argument against the permanence of national state as sole decision-maker and owner of mineral resources. Since this is a vast topic the discussion will be narrowed to a specific example: focusing on the case study of rare earth elements (REE). A more specific case study will be introduced: the case(s) DS431–432–433, related to the exportation of rare earth elements, tungsten and molybdenum with China as a respondent. The paper will conclude that the national state governance system of mineral resources, which is at the core of the WTO’s regulation, is an archaic and inefficient way of dealing with scarce, nonrenewable and unevenly distributed resources such as REE
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