 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
| . |  |
. |
China threatens to block industrial goods deal at WTO
Geneva (AFP) Nov 9, 2007 China has threatened to veto any proposals on cutting customs tariffs on industrial goods at the World Trade Organisation (WTO) if its requests are not met, trade sources said on Friday. During a meeting of the negotiating group on non-agricultural market access (NAMA), China's delegate said he had received instructions from Beijing to veto any revised text put forward by group chair Don Stephenson if it "proposed flexibilities that failed to meet China's minimum requirements," the sources said. China did not make clear what its precise requirements were, they added. The move was seen as a bid to put pressure on the negotiations in the Doha Round of trade liberalisation talks. But sources said it would be very difficult for China to veto the whole Doha package as Beijing stands to make substantial gains from a successful WTO deal. "It could just be grandstanding," a trade source said. "You cannot take all these things very literally," another source from a developing economy added, noting that political rhetoric is an integral part of trade negotiations. Back in July, Stephenson, who is also Canada's ambassador to the WTO, issued draft proposals that called for a cut in industrial tariffs charged by about 30 developing nations to less than 23 percent. The proposals drew a large amount of criticism, particularly from the "NAMA 11" group of developing nations that views them as unfair and too generous to developed countries. China's objections are "just another symptom" of the widespread dissatisfaction, a trade source from a developing country told AFP. The current text needs substantial revision or it could be blocked not just by China but a large number of countries, the source added. For China, which is classed as a developing nation as part of its WTO accession agreement, Stephenson's proposals would mean a cut to between 6.1 and 6.5 percent on average, from 9.0 percent currently. China would "not accept a provision in the new text that would be discriminatory," the sources cited the delegate as saying. The European Union reacted sharply to the Chinese intervention, warning it could spark "political reactions" given China's weight in the world economy, the sources added. The United States did not react directly however, they noted. Washington's ambassador to the WTO did say earlier this week that China and other developing countries such as Brazil and India needed to demonstrate more flexibility on NAMA in order for the US administration to convince Congress to approve any final deal. "If China, Brazil, South Africa, Argentina, India and others are not making reasonable contributions, then we won't be able to make that demonstration," ambassador Peter Allgeier told AFP in an interview. Noting that some of the NAMA 11 countries are key agricultural exporters, the US ambassador said "there needs to be a fair contribution from them in light of potentially what they can get" from a successful Doha round. Stephenson was due to issue a revised "modalities" text on November 15 but trade sources said that this will now be delayed by one or two weeks due to a similar impasse on agriculture talks. Many countries will not even consider talks on the NAMA coefficient -- the formula which determines by how much tariffs will be cut -- before a deal is reached on agriculture or even before a ministerial meeting, sources said. However, developing economies such as the EU and US deem NAMA equally important for a successful overall round. "There won't be any round without a substantial, meaningful result in NAMA," sources cited the EU representative as saying. Three weeks of intensive talks have failed to yield substantial progress, prompting Stephenson to warn members they were "condemned to continue this dialogue." Developing and emerging nations in the six-year-old Doha Round of trade talks are seeking cuts in rich country subsidies and in import tariffs for agricultural produce. Developed nations want better access to industrial markets in poorer economies in return. Community Email This Article Comment On This Article Related Links Global Trade News
China To Rule The World Economy
Moscow (RIA Novosti) Nov 06, 2007The China-Russia Friendship Year is finishing early this month with great pageantry. Economic contacts underlying the galas are asymmetrical-Russia has silently accepted the role of China's sales outlet and raw material supplier. The two countries' political and business leaders are gathering in Moscow, November 6, for a second bilateral economic forum to take stock of mutual interests. Chinese interests are clear as it is, while Russian are based on China's advance to the world economic stage. |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
