China must share its minerals
As a World Trade Organization member, China is obligated to act fairly in the global marketplace, which it has as of late, not being doing. The WTO, this week ruled against China’s practice of enforcing export restrictions for rare earth elements in the global marketplace, declaring this practice as unfair and breaking global trade rules.
China currently holds over 90% of the rare earth global production. The restrictions China had been imposing assured “preferential use” of the elements for Chinese companies, according to the WTO.
To read more, click here.
Guacamole Shortage
Chipotle Mexican Grill is among many restaurant food chains that fear the worst regarding a looming avocado shortage. Researchers at the Lawrence Livermore National Lab speculate avocado production could fall by 40% over the next thirty years as a result of climate change.
Limes and tomatoes could also one day be in high demand, both along with avocados vital ingredients used to produce guacamole and salsa—staples of Mexican cuisine. Due to draught in California, prices are already on the rise for fresh produce: shortages could one day become so acute and prices so high, guacamole would be removed from food menus.
To read more, click here.
Automakers agree to unified supply chain standards
Several prominent automakers, including BMW, Ford and Toyota have collectively agreed on universal industry standards for a variety of supply chain practices concerning human rights, environmental and business ethics.
The agreement was created with the intention of establishing minimum expectations for suppliers and their subcontractors: each part of the supply chain must maintain these levels of ethical and sustainable practices.
To read more, click here.
Have a great weekend!
