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October 26, 2006
China's ire at North Korea tempered by ore | www.iht.com
The article suggests that China's reluctance to impose stronger sanctions on North Korea in the wake of the latter's nuclear test is largely the result of economic factors; specifically, China's rising demand for North Korean iron ore. The article is seriously misguided.
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October 18, 2006
China's Foreign Currency Reserves Almost $1 Trillion | www.bloomberg.com
The value of China's currency, the RMB, is gradually appreciating in value and will continue to do so.
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October 17, 2006
Report: WTO to OK Vietnam's Entry | biz.yahoo.com
Vietnam is poised to join the WTO in November. Investors get ready.
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October 16, 2006
Russia claims breakthrough with US on WTO | www.ft.com
Having put their differences behind them, the United States and Russia will sign a trade deal allowing the former Communist nation to join the WTO.
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Green Light for Foreign Investors in China Transportation
October 12, 2006
Beijing will build easier, faster, environmentally friendly transportation system | english.people.com.cn
The transportation sector in China is open to foreign investors.
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October 11, 2006
Chinese Rules Could Tie Up Foreign Retailers | online.wsj.com
Under China's accession agreement to the WTO the country agreed to gradually open most sectors of its domestic economy to foreign investment. While navigating the Chinese market is not easy, the effort is worth it and the potential payoffs are huge.
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October 11, 2006
Chinese Discuss Plan to Tighten Restrictions on Cyberspace | www.nytimes.com
Chinese regulations on cyberspace should not deter those seeking to enter the space.
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Congress Snubs WTO: Roles the Dice on Internet Gambling
October 6, 2006
Internet Gambling | www.wsgc.wa.gov
Last Friday the United States Congress passed legislation outlawing most forms of internet gambling. The law is in clear violation of US WTO commitments and a landmark 2005 ruling in which the organization's Appellate Body found for the country of Antigua. The enactment of the law, and its anticipated signing by the President, will weaken the WTO by signaling that big powerful countries do not have to respect the rule of law when it breaks in favor of weak small countries.
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Congress Snubs WTO: Roles the Dice on Internet Gambling
October 6, 2006
Lawyer: Net Betting Ban Violates WTO Ruling | www.rgtonline.com
Last Friday, the United States Congress passed legislation outlawing most forms of internet gambling. The law is in clear violation of US WTO commitments and a landmark 2005 ruling in which the organization's Appellate Body found for the country of Antigua. The enactment of the law, and its anticipated signing by the President, will weaken the WTO by signaling that big powerful countries do not have to respect the rule of law when it breaks in favor of weak small countries.
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October 4, 2006
China Q2 growth fastest in decade | www.ft.com
In July the Chinese National Bureau of Statistics reported that the nation's economy accelerated at the fastest rate in more than a decade in the second quarter, growing by 11.3 percent on a year-over-year basis. The report comes less than a year after China surpassed France and Britain to become the world's fourth largest economy. The implication is that the country's market reforms are working; and absent a major shock to China's economy or an outbreak of inflation, the breakneck growth rate is likely to continue into the foreseeable future.
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China Privitizes Security Services: Foreign Investment Allowed
October 4, 2006
(China) Security Service Ready for Private, Foreign Investors | www.chinadaily.com.cn
As part of its ongoing effort to comply with its WTO accession commitments, China announced last month that it will privatize its security sector next year, just in time for the Beijing Summer Olympics in 2008. If you are a business in the security sector, the time to consider investing is now.
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On the Chopping Block: Farewell to US Cotton Subsidies?
October 4, 2006
WTO Launches Probe into US Cotton Subsidies | news.yahoo.com
Last month the WTO announced it would launch an investigation into whether the US has complied with a 2004 ruling to dismantle is various programs for cotton subsidies. Brazil, who won the 2004 case and has called for the investigation, will be authorized to slap $4 billion in retaliatory tariffs on US goods if the US has not complied.
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China Flexes Its Muscle at WTO
October 4, 2006
Auto Parts Import Probe Blocked | www.chinadaily.com.cn
On September 29, China exercised its right to block a request by the US, the EU, and Canada to set up a WTO investigation into its rules on auto part imports. This action is just one more indication that China is becoming more assertive at the WTO. Expect more muscle flexing in the future.
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Trade Balance Signals Healthy Economy
October 4, 2006
Trade gap narrows slightly as exports rise | www.washingtonpost.com
When assessing the most recent trade balance figures it is important to move beyond the trade deficit and disaggregate the figures into exports and imports. When this is done, it is clear that the foreign trade sector of the US economy is doing well.
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October 4, 2006
Automakers Join to Oppose Steel Tariffs | www.washingtonpost.com
On October 17 the US International Trade Commission will hold a hearing to consider whether it should terminate tariffs on "corrosion resistant" carbon flat steel products or renew them for another five years. Given the structure of the ITC's original protective orders it is likely that the tariffs will be renewed for another five years.
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Ramping Up Small Business Exports?
October 4, 2006
Congress Pushes More Export Financing | www.washingtonpost.com
The US Senate is currently considering a bill that would a new division within the Export-Import Bank dedicated to improving the export performance of small businesses. Since small business exports are critical to improving the US trade balance this is welcomed news. It is not clear, however, whether the bill will become law.
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Don't Stop Thinking About Tomorrow: Doha Round Right on Track
October 3, 2006
At a Crossroads: Failed Trade Talks Cloud WTO's Future | online.wsj.com
The Doha Development Round is right on track. It will be concluded. Businesses can plan on it.
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October 3, 2006
Senators Drop Bill to Slap Levies on (Chinese) Goods | www.chinadaily.com.cn
On September 30 Senators Charles Schumer and Lindsey Graham decided to end their sponsorship of legislation that would have imposed 27.5 percent tariffs on all Chinese goods if Beijing refused to raise the value of its currency, the RMB. The Senators have come to their senses. The imposition of such a punitive measure would have done little to ease surging Chinese imports into the American market and could easily have led to a costly trade war.
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October 3, 2006
China in major push to support car sector | www.ft.com
This article provides a brief overview of China's rising power in the auto export sector.
The article is important because:
1) it focuses on new government incentives to China's auto manufacturers to export.
2) it signals that China is likely to increase its share of the global auto export market in coming years. -
EU to WTO: US Tariff Practices Illegal
October 3, 2006
EU Renews WTO Complaint over US "Zeroing" Practice | www.bloomberg.com
Last month the EU formally requested that the WTO establish a Dispute Settlement Panel to investigate US "zeroing" practices. While it is likely to be a year or more before a resolution is reached, recent WTO panel decisions leave little doubt that the eventual ruling will go against the US. The result is likely to be increased EU import penetration into the US market in key industrial sectors and/or billions of dollars in WTO imposed fines.
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