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TRADE WARS
Facing complaint, China says it opposes protectionism

China says it will chase foreign investors who flee debt
China will track down foreign investors who flee the country leaving debts and other liabilities behind, and may even ask for their extradition, the government said. People who leave without paying their dues have caused "heavy economic losses to Chinese stakeholders" and had a "negative impact on social stability", the government said in a statement over the weekend. Beijing will work through diplomatic channels to seek the return to China those who have left to escape huge taxes, said the statement, posted on the central government's website. The statement was vague about who might be targeted, but it also seemed to cover businesspeople who leave failed companies. Beijing is increasingly concerned about business closedowns, as hundreds of thousands of migrant workers become jobless after factories in the coastal areas go bankrupt with exports falling amid the world economic crisis.
by Staff Writers
 Beijing (AFP) Dec 22, 2008
 China said it was opposed to protectionism and respected global trading rules, reacting to a US and Mexican complaint about its trade practices filed at the World Trade Organisation.

China also said it would use WTO rules to address the request by the two countries to seek dispute settlement consultations on export subsidy measures allegedly giving Chinese exporters an unfair advantage.

"The Chinese side has always respected WTO rules and opposed trade protectionism," the commerce ministry said on its website.

Washington's decision to haul China to the WTO came after analysis of dozens of Chinese promotion programs, Trade Representative Susan Schwab's office said on Friday.

The United States, Schwab said, was concerned that the Chinese programmes appeared to incorporate export subsidies and "protectionist industrial policy."

She said the United States would use "all resources available to fight industrial policies that aim to unfairly promote Chinese-branded products" at the expense of US interests.

Following the settlement consultations request, both parties would have 60 days to resolve the dispute between them.

If no resolution is reached, WTO arbitrators would then be asked to make a ruling which could be appealed by either side.

Last week, China lost an appeal against a WTO ruling that its tariffs on car part imports violated global trade rules, a complaint initially lodged by the United States, Canada and the European Union.

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TRADE WARS
US drags China to WTO over 'protectionist' policy
 Washington (AFP) Dec 19, 2008
 The United States said Friday it had hauled China to the WTO over Beijing's programs to market Chinese-branded goods which Washington charged were based on "protectionist" policy.






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