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BerichtGeplaatst: 16-10-2018 02:15:36    Onderwerp: With Hollande in Abu Dhabi o Reageren met citaat
BEIJING, Feb. 9 (Xinhua) -- As anti-globalization appears to be sweeping across world economies still struggling with slow recoveries, China is poised to defend its exports against escalating protectionism.


"We do not want trade wars, but we will be well-prepared for and actively respond to any trade remedy measures from other countries and regions to protect the interests of Chinese enterprises," Wang Hejun, head of the trade remedy and investigation bureau under the Ministry of Commerce, told the "Economic Information Daily."


His remarks came in as a response to recent exorbitant tariffs imposed by the United States and European Union on Chinese steel.


The U.S. commerce authority ruled earlier this month that importers of stainless sheets and strips manufactured in China will have to pay anti-subsidy taxes up to 190.71 percent and anti-dumping taxes up to 76.64 percent. The European Commission at the end of January decided to levy heavy duties on another Chinese steel product, with rates ranging between 30.7 percent and 64.9 percent.


For China's steel industry, with its average profit margin of 5 percent to 10 percent, the taxes are more than enough to completely drive Chinese companies out of the overseas markets, analysts said.


The two cases signaled looming trade pressures for the world's second largest economy that had once thrived on exports.


"The global trade [situation] is deteriorating and will become even grimmer in 2017," Wang said, predicting Chinese steel and aluminum products will continue to be main targets of trade investigations.


The world's largest exporter has born the brunt of rising protectionism amid the feeble global economic recovery.


Chinese exporters suffered a record number 119 trade remedy investigations initiated by 27 countries or regions last year, a 36.8 percent increase from 2015. Those cases involved 14.34 billion U.S. dollars of goods, up 76 percent year on year.


Weighed on by trade remedies, China's full-year exports in 2016 dropped 2 percent in yuan-denominated terms, and imports up slightly by 0.6 percent, customs data showed. Its trade surplus dropped 9.1 percent.


"Protectionism is becoming increasingly serious, not only because of surging trade probes, but the disregard for and abuse of established rules of some members of the World Trade Organization (WTO), which have further compounded the international circumstance," Wang said.


To easily impose exorbitant tariffs on Chinese products, the United States and EU still use costs of production in a third country to calculate the value of products from countries on its "non-market economy" list, which includes China.


The unfair and unreasonable practice should have expired at the end of 2016, according to agreements signed when China joined the WTO in 2001. But the United States has refused to grant China equal trade status, and the EU, although mulling abolishment of its "non-market economy" list, has proposed new restrictions to legalize the old practice.


Trade remedies have been politicized and become an expedient for some countries and regions to transfer domestic economic pressure, Wang said.


Under a prolonged economic downturn, protectionism is on the rise around the globe. The monthly average trade investigations launched by WTO members in 2016 reached the highest level since 2009.

French President Francois Hollande gestures as he speaks during a visit to Louvre Abu DhabiFrance's President Francois Hollande gestures as he speaks during a visit to Louvre Abu Dhabi Cheap Toronto Raptors Jersey , in Abu Dhabi, United Arab Emirates Cheap Utah Jazz Jersey , December 3, 2016. REUTERSStringer

PARIS - France's Left on Saturday launched a bid to re-energize supporters disenchanted by Francois Hollande's five years in power and find a candidate to unite the ranks ahead of a presidential election next year where it could face humiliation.


Hollande threw the Socialist nomination of a candidate for next spring's presidential election wide open last Thursday when he announced he would not seek a second term in the Elysee.


As leftist groups held a rally on Saturday intended to be the start of a fightback after months of disarray Cheap Washington Wizards Jersey , all eyes were on Prime Minister Manuel Valls, widely tipped as favorite to become the Socialists' standard bearer despite having pro-business policies which have angered many in the party.


With Hollande in Abu Dhabi on an official visit Wholesale NBA Basketball Jerseys , the 54-year-old Valls stayed away from the rally and, though he was dogged by journalists throughout the day Wholesale Basketball Jerseys , there was no formal announcement from his camp.


Media commentators expected he would declare himself soon as a candidate for the Socialist primaries in late January where his main rival for the party ticket is likely to be Arnaud Montebourg, a leftist firebrand and former economy minister under Hollande.


The meeting hall of the convention by the Belle Alliance Populaire Wholesale NBA Jerseys , or Beautiful Popular Alliance, which brings together the Socialists and their allies Wholesale Jerseys Free Shipping , resounded to cries of: "Unite!" from the 3,000 or so leftwing faithful who turned out on Saturday. Authentic Le'Veon Bell Jersey Authentic Lamar Jackson Jersey Khalil Mack Womens Jersey Kareem Hunt Youth Jersey Julio Jones Youth Jersey JuJu Smith-Schuster Youth Jersey Jimmy Garoppolo Kids Jersey Jason Witten Kids Jersey Jared Cook Kids Jersey Jalen Ramsey Kids Jersey
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