This is project pursued by many[1]. The main hurdles are:
1. political [2], which Kirk mentions (it is no coincidence, that the pellets that the rods contain are as standard as the NATO bullet) -- the industry and power has a very different interest
2. technical: Kirk always mentions, that the fuel is not solid. It is liquid. The latter means, that you do have higher concerns about corrosiveness, hence (useful) reactor lifetime...
Also, the issue of scale, which tends to lie between 1. and 2. Uranium "won", because you got the real stuff with it (weapons as in actual projection of power, or the capability of threat to project power) and because you could make it work on a massive scale (current reactors are an order of magnitude larger than any LFTR design, and capitalism is based on the leverage of and concentration of power).
[1] http://energyfromthorium.com/
http://www.thorenergy.no/
http://thoriumenergy.com.au/
... besides China, India, France and (even) Czechs.
[2] http://www.bbc.co.uk/blogs/adamcurtis/2011/03/a_is_for_atom.... -> see Seaborg interview part