No, it's the Unites States' fault. In 1982 (iirc), the US decided that Thorium is a "source material" for nuclear weapons, even though it very clearly isn't.

No, it's the Unites States' fault. In 1982 (iirc), the US decided that Thorium is a "source material" for nuclear weapons, even though it very clearly isn't. Since rare earth metals have chemistry very similar to Thorium, they tend to occur together. Anyone who mines REE, ends up with waste Thorium. It's just slightly radioactive, chemically inert sand, but by decree it is a "TENORM" (technically enhanced naturally occurring radioactive material), and by decree, someone stealing it could theoretically build an atomic bomb from it, even though they can't in the real world. So because it's a TENORM, the waste can't go back into the same hole in the ground that it came from. And because it's a "source material", it has to be guarded. And the eventual disposal has to follow all sorts of regulations. All of that is so expensive, that nobody bothers anymore. China simply doesn't play these stupid games. That's why they are cheap.