HARD TARGET, with Jean-Claude Van Damme, Lance Henriksen, Yancy Butler. Directed by John Woo. Category II. On the Panasia circuit.
THE film that put the ''Woo'' into Hollywood has caused a fair bit of excitement, seemingly as some kind of longed-for validation of the Hong Kong Way of making movies among international, especially American, audiences.
The name John Woo is now ineffably hip, not only in the United States, but also in Europe, where his earlier Hong Kong action movie Hard Boiled is now enjoying a limited commercial release.
State rare earth giant throws support behind China’s broad export controls
As US officials attempt to use Beijing’s rare earth curbs to win allies, China Rare Earth Group says it will ‘strictly enforce’ measures
One of China’s largest producers of rare earth elements has pledged to “strictly enforce government guidance” on export controls, a show of support from a major industry player as US officials harshly criticise Beijing’s recent expansion of licensing requirements for the crucial minerals.
In a post published on its official website Thursday, the group said under a “complex and challenging” external environment, all operations must follow laws and regulations to ensure “alignment with national policies”. The state-owned company named regulatory compliance as a “key operational focus” for the fourth quarter.
Gong Jiong, an economics professor at the University of International Business and Economics in Beijing, said China’s rare earth export controls are long-term policies that will not be reversed, and all enterprises in the industry must follow.
“There may be room for flexibility in implementation by streamlining approval procedures or making commitments to maintain global supply chain stability, ultimately depending on the progress of the coming foreign trade negotiations,” he said.
Meanwhile, the European Union is weighing potential countermeasures in response to China’s recent action on rare earths.
“We are examining possible countermeasures if conditions do not improve. We have not yet named any specific instruments, but the discussion is ongoing.”
Rare earth elements are essential raw materials used in a number of hi-tech products, like electric motors, medical devices and military equipment. In the automotive industry, permanent magnets that rely on the minerals for their strength are found everywhere – from fuel sensors and speakers to motors and power trains – particularly in the manufacture of electric vehicles.
Citing an estimate from consulting firm AlixPartners, Reuters has reported China currently controls about 70 per cent of global rare earth mining, 85 per cent of refining capacity and 90 per cent of alloy and magnet production.
Earlier this month, Beijing added five more medium-heavy rare earth elements to its export control lists, along with equipment and technologies related to the minerals’ extraction and processing.
In recent months, prices for light rare earths such as neodymium have nearly doubled, while heavy rare earth products used in the defence industry have become increasingly scarce.
