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Assessment of Trading Partners for China's Rare Earth Exports Using a Decision Analytic Approach

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  • Chunyan He
  • Yalin Lei
  • Jianping Ge

Abstract

Chinese rare earth export policies currently result in accelerating its depletion. Thus adopting an optimal export trade selection strategy is crucial to determining and ultimately identifying the ideal trading partners. This paper introduces a multi-attribute decision-making methodology which is then used to select the optimal trading partner. In the method, an evaluation criteria system is established to assess the seven top trading partners based on three dimensions: political relationships, economic benefits and industrial security. Specifically, a simple additive weighing model derived from an additive utility function is utilized to calculate, rank and select alternatives. Results show that Japan would be the optimal trading partner for Chinese rare earths. The criteria evaluation method of trading partners for China's rare earth exports provides the Chinese government with a tool to enhance rare earth industrial policies.

Suggested Citation

  • Chunyan He & Yalin Lei & Jianping Ge, 2014. "Assessment of Trading Partners for China's Rare Earth Exports Using a Decision Analytic Approach," PLOS ONE, Public Library of Science, vol. 9(7), pages 1-13, July.
    • Handle: RePEc:plo:pone00:0102870
    DOI: 10.1371/journal.pone.0102870
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    References listed on IDEAS

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    1. Keeney,Ralph L. & Raiffa,Howard, 1993. "Decisions with Multiple Objectives," Cambridge Books, Cambridge University Press, number 9780521438834, September.
    2. Peter C. Fishburn, 1967. "Letter to the Editor—Additive Utilities with Incomplete Product Sets: Application to Priorities and Assignments," Operations Research, INFORMS, vol. 15(3), pages 537-542, June.
    3. Robert Looney, 2011. "Recent Developments on the Rare Earth Front," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 12(1), pages 47-78, January.
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    Cited by:

    1. Fernandez, Viviana, 2017. "Rare-earth elements market: A historical and financial perspective," Resources Policy, Elsevier, vol. 53(C), pages 26-45.
    2. Hou, Wenyu & Liu, Huifang & Wang, Hui & Wu, Fengyang, 2018. "Structure and patterns of the international rare earths trade: A complex network analysis," Resources Policy, Elsevier, vol. 55(C), pages 133-142.
    3. Wang, Xibo & Wei, Wendong & Ge, Jianping & Wu, Bin & Bu, Wei & Li, Jiashuo & Yao, Mingtao & Guan, Qing, 2017. "Embodied rare earths flow between industrial sectors in China: A complex network approach," Resources, Conservation & Recycling, Elsevier, vol. 125(C), pages 363-374.
    4. Wang, Xibo & Lei, Yalin & Ge, Jianping & Wu, Sanmang, 2015. "Production forecast of China׳s rare earths based on the Generalized Weng model and policy recommendations," Resources Policy, Elsevier, vol. 43(C), pages 11-18.
    5. Han, Aiping & Ge, Jianping & Lei, Yalin, 2016. "Vertical vs. horizontal integration: Game analysis for the rare earth industrial integration in China," Resources Policy, Elsevier, vol. 50(C), pages 149-159.
    6. Ge, Jianping & Wang, Xibo & Guan, Qing & Li, Weiheng & Zhu, He & Yao, Min, 2016. "World rare earths trade network: Patterns, relations and role characteristics," Resources Policy, Elsevier, vol. 50(C), pages 119-130.
    7. Han, Aiping & Ge, Jianping & Lei, Yalin, 2015. "An adjustment in regulation policies and its effects on market supply: Game analysis for China’s rare earths," Resources Policy, Elsevier, vol. 46(P2), pages 30-42.

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