An International Public Goods Perspective upon China’s Resource Governance: the Function and Invalidation of REO(rare earth oxide) Economic Diplomacy

Yan Zhanyu (), Wang Hongyu () and Li Hongjia ()

Journal Global Policy and Governance, 2015, vol. 4, issue 2, 51-68

Abstract: The defeat of China’s REO lawsuit in WTO reflects the worseninginternational environment of China’s REO trade and failure of China’s REOeconomic diplomacy. REO trading system under the WTO framework is essentially aninternational public goods provided by both REO consuming and supplying countries.China and Western countries are assumed the responsibility of providing materialand normative public goods. However, China’s high cost of providing public goodsand profit outflow resulted in China’s practical dilemma in REO trade. AlthoughChina’s economic diplomacy committed to reverse this imbalanced situation, due tothe block between capability and power conversion, the dominance of REO resourcesin China failed to translate into a trade advantage, thus proclaiming the failure of REOeconomic diplomacy and leading a more serious imbalance.

Keywords: REO; -; International; REO; trading; system; -; International; public; goods; National; power; -; Economic; diplomacy (search for similar items in EconPapers)
Date: 2015
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