The confusingly named substances known as “rare earths” – blame, ultimately, the Sicilian Greek philosopher Empedocles and his theory of the four elements – are a good subject for a World Trade Organization lawsuit. On Tuesday, the United States, the European Union and Japan commenced an action about a Chinese export restriction, though the prices of rare earths are currently falling. China ought to be held to its obligations to comply with the international trading system, and the rare-earths action is the proper way to make that point.
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