U.S., EU, Japan to join forces on Chinese excess industrial capacity: source
11 replies, posted
[QUOTE]BUENOS AIRES/WASHINGTON (Reuters) - The United States, European Union and Japan are expected to announce a joint effort on Tuesday aimed at confronting China over its excess industrial capacity and other trade practices, a source close to the discussions said.
Trade officials from the two countries and the EU will make a joint statement on the sidelines of the World Trade Organization ministerial meeting in Buenos Aires, aligning to address the overcapacity issue, said the person, who spoke on condition of anonymity because talks on the issue were continuing.
It was unclear whether China would be specifically named in the statement.
Washington, Brussels and Tokyo have raised complaints about China’s subsidies to state-owned enterprises, state financing and investment rules that often force foreign firms to transfer strategic technologies. They argue that such distortions have fueled rampant overcapacity in key industries such as steel and aluminum that are flooding global markets and forcing layoffs elsewhere.
The United States has sided with the EU in arguing that the WTO should not grant China market economy status, a move that would severely weaken Western trade defenses.
On Monday, Japanese Trade and Economy Minister Hiroshige Seko voiced support for efforts to strengthen WTO transparency and reporting standards - a U.S. initiative largely aimed at exposing illegal Chinese subsidies.
“Free trade only works when we secure fair conditions for competition,” Seko said in remarks to WTO colleagues. “Fair market conditions must not be negatively affected by measures such as market-distorting subsidies, forced technology transfer, infringement of intellectual property rights and unfair trade practices by state-owned enterprises.”
[B]The Trump administration is investigating Chinese intellectual property practices, which could lead to unilateral trade retaliation under a U.S. trade law that predates the WTO’s creation in 1995. The administration is also considering broad import restrictions on steel and aluminum on national security grounds under a Cold War-era trade law.[/B]
EU member countries including as Germany have threatened retaliation against any U.S. steel tariffs and have urged Washington against such unilateral actions.[/QUOTE]
[URL]https://www.reuters.com/article/us-trade-wto-china-excess/u-s-eu-japan-to-join-forces-on-chinese-excess-capacity-source-idUSKBN1E6069?il=0[/URL]
Good, and while we are at it can we stop randomly adding china to movies for no reason?
[video]https://youtu.be/8R-FQTY4KJk[/video]
The fact that China thinks they can get the WTO to recognize them as a market economy is hilarious! They just want to be highly protectionist with their own domestic markets, but strong arm smaller countries into recognizing their """market""" economy with the promise of trade deals.
[QUOTE=toaster468;52968378]Good, and while we are at it can we stop randomly adding china to movies for no reason?
[video]https://youtu.be/8R-FQTY4KJk[/video][/QUOTE]
China in movies is the most shoehorned move in recent years.
[QUOTE=Ignhelper;52968642]China in movies is the most shoehorned move in recent years.[/QUOTE]
You're forgetting about bad Russians.
[QUOTE=toaster468;52968378]Good, and while we are at it can we stop randomly adding china to movies for no reason?[/QUOTE]
How else will the shithouse that is the film industry make money except by appealing to asian markets
[QUOTE=karimatrix;52968676]You're forgetting about bad Russians.[/QUOTE]
I wasn't aware the 50s was still considered recent.
"Fair market" is a pretty low bar to set for free trade.
[QUOTE=Trebgarta;52968694]Nah, that's a classic, just like dumb and arrogant Americans and humorless Germans. A fact of life[/QUOTE]
And evil genius/turncloak brits.
[QUOTE=toaster468;52968378]Good, and while we are at it can we stop randomly adding china to movies for no reason?
[video]https://youtu.be/8R-FQTY4KJk[/video]
The fact that China thinks they can get the WTO to recognize them as a market economy is hilarious! They just want to be highly protectionist with their own domestic markets, but strong arm smaller countries into recognizing their """market""" economy with the promise of trade deals.[/QUOTE]
this has absolutely nothing to do with the subject lol. That's all market forces on Hollywood producing overbloated schlock day after day. Their fault alone.
I think the potential implications of driving up prices on imports are significant. It's such a double edged sword. While the idea is to shift some production back to the US, there are [url=https://youtu.be/H03o2WCBoDU]serious implications for consumers and global supply chains generally [/url] of how that will affect end consumer prices and the price of domestic manufacturing itself. I think a bit of taxation and protectionism here and there to support certain industries is a good thing, but given the technological direction of where manufacturing is going already, it makes me wonder about the potential costs that may be thrust upon the lower and middle classes.
Sorry, you need to Log In to post a reply to this thread.