Photo: AP

US Secretary of State Hillary Rodham Clinton, right, meets with Japanese Foreign Minister Seiji Maehara in Honolulu, Hawaii, on 27 Oct. 2010, marking her first stop on a two-week-long tour of Asia.

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.

For Clinton, it is the first stop on a two-week Asia Pacific tour that will take her to seven countries, including Vietnam for this week's meetings of Southeast Asian leaders and the East Asia Summit.

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.

Chinese Premier Wen Jiabao insisted earlier this month that China will not use the materials as a "bargaining chip," and a Chinese official repeated the assurance Thursday.

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.