Suzuki suspends Swift production due to China's rare earth controls, becoming the first Japanese carmaker to halt production because of China's rare earth export restrictions!
In fact, Japan was previously 90% reliant on China for rare earth elements. After the incident with the Diaoyu Islands, the Japanese reduced their reliance on China's rare earth elements and now have a dependency rate of 58%.
According to reports from the Nikkei Chinese website on the 5th and the Japan Kyodo News on the 8th, insiders revealed that affected by China's export restrictions on rare earth elements, Suzuki Motor Corporation has suspended production of its mainstay model, the "Swift." This is the first Japanese automotive manufacturer to be forced to stop production due to China's rare earth export controls. Insiders stated that delays in procuring related rare earth components have caused Suzuki to be unable to maintain its normal production schedule.
If Japan pretends to be oblivious and sacrifices China's interests as a bargaining chip in negotiations with the United States, more troubles will continue to arise.
Original article: https://www.toutiao.com/article/1834443909041152/
Disclaimer: The article solely represents the author's personal views.