WTO Rejects Appeal by Chinese Regime
NTDTelevision
2012-02-02
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A ruling by the World Trade Organization could change the face of international trading.
An appeal by the Chinese regime to revoke July's landmark ruling against its restrictions on exports of nine common industrial materials has been rejected.
The US, Europe, and Mexico accused the Chinese regime of driving up prices and giving an unfair advantage to Chinese manufacturers with several export duties and quotas.
But the regime appealed saying the measure was in place for environmental protection.
The ruling by the WTO could set an important precedent. China currently exports 90% of the world's rare earth metals -- important ingredients in many modern technologies.
Similar export quotas and duties exist on rare earth metals, which has also drawn criticism from the international community.
The Chinese regime is expected to comply with the WTO ruling.
The WTO gives China access to invaluable international markets that have driven much of China's recent economic growth in the past three years.
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A ruling by the World Trade Organization could change the face of international trading.
An appeal by the Chinese regime to revoke July's landmark ruling against its restrictions on exports of nine common industrial materials has been rejected.
The US, Europe, and Mexico accused the Chinese regime of driving up prices and giving an unfair advantage to Chinese manufacturers with several export duties and quotas.
But the regime appealed saying the measure was in place for environmental protection.
The ruling by the WTO could set an important precedent. China currently exports 90% of the world's rare earth metals -- important ingredients in many modern technologies.
Similar export quotas and duties exist on rare earth metals, which has also drawn criticism from the international community.
The Chinese regime is expected to comply with the WTO ruling.
The WTO gives China access to invaluable international markets that have driven much of China's recent economic growth in the past three years.
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