The United States and Japan say they agree that the entire world must begin to develop new sources of rare earth minerals after receiving a wake-up call from China . U.S. Secretary of State Hillary Clinton and her Japanese counterpart, Seiji Maehara, made the comments after a meeting in Hawaii. Japanese traders have complained that China , which controls more than 95 percent of the world's supply, held up deliveries of the minerals during a dispute over Japan 's arrest of a Chinese fishing boat captain. However China says its reserves are running down and it reduced export quotas by 40 percent this year. The minerals are needed to manufacture high-tech products such as computer components and hybrid cars.