Japan is the latest country to raise concerns over the Chinese Monopoly over Rare Earth Minerals.These 17 Minerals are essential for High Technology and Green Industries of the Future and China has a control over 97% of the global deposits of these minerals.The EU had recently warned over the adverse effect over the shortage of these rare minerals while USA is contemplating taking China to the WTO over the same matter.China has defended its action saying that mining of these minerals leads to environmental degradation has reduced the export quota drastically by 72% in the 2nd half of 2010 compared to the First Half.Japanese automakers like Honda,Toyota and Nissan have big plans in the Green Vehicle Sector which uses big amounts of these minerals imported from the mainland.However China’s cracking down over illegal exports and tightening control over these rare minerals has sent down tremors in Japan.