Nations clamp down on resources
By Krittivas Mukherjee | China Daily | Updated: 2011-07-21 07:58
As the world economy recovers, the battle for commodities will intensify
NEW DELHI - Countries from India and Indonesia to Russia are tightening their grip on natural resources as they limit exports to build up domestic industry in a trend that will spawn many challenges to World Trade Organization (WTO) rules.
Export barriers are tightening on commodities ranging from food and coal to iron ore and rare earths, which have critical roles in high-tech devices, as countries harden positions on what they see as a sovereign right to development.
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