Economics

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  • Topic: Rare earth element, Rare-earth magnet, Inflation
  • Pages : 12 (2645 words )
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  • Published : September 19, 2012
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| | |RAFFLES INSTITUTION | |2011 YEAR 6 PRELIMINARY EXAMINATION | |Higher 1 |

ECONOMICS8819/01

Paper 11 September 2011

3 hours
Additional Materials:Answer Paper

READ THESE INSTRUCTIONS FIRST

Write your name, index number and CT class on all the work you hand in. Write in dark blue or black pen on both sides of the paper.
You may use a soft pencil for diagrams, graphs or rough working. Do not use paper clips, highlighters, glue or correction fluid.

Section A
Answer all questions.
Section B
Answer one question.

Answer each question on a fresh sheet of paper.
At the end of the examination, fasten all your work securely together with this sheet as cover page for your answer script.

The number of marks is given in brackets [ ] at the end of each part question.

| | |Section |Question |Marks | |Name: __________________________ | |A |1 | /30 | | | | | | | |Civics Class: _____________________ _____________________ | | | | | | | | |2 | /30 | |Economics Tutor: _________________ | | | | | | | |B |(please fill in question no.)| /25 |

| | |This document consists of 8 printed pages and 2 blank pages. | | | |[pic] | BLANK PAGE

Section A

Answer all questions in this section.

Question 1 Rare Earths

Extract 1: China’s rare earth monopoly threatens global suppliers, rival producers claim

The Chinese acquisition of stakes in Australian rare earth miners Lynas Corporation and Arafura Resources has caught the rest of the world sleeping. Following two acquisitions in the past six months for an aggregate US$163m, Korean, Japanese and Western players may find themselves locked out of the sector. With over 90% of the global rare earth resource held by Chinese companies, the country’s monopoly looks unchallenged. The recent Australian acquisitions have brought China’s control of the majority of the rare earth deposits outside China.

Rare earth metals are needed for the manufacturing of wind turbines, solar panels, plasma televisions, mobile phones and hybrid...
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