China and US head for trade war
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Europe and the United States announced last night co-ordinated action against China for busting World Trade Organisation (WTO) rules by restricting exports of essential raw materials, raising fears of a damaging east-west trade war in the depths of the global recession.
Ron Kirk, the US trade representative, accused Beijing of putting a “giant thumb on the scale” by restricting exports of commodities including silicon, coke and zinc, to give Chinese manufacturers an unfair advantage over their international rivals. “It’s our job to make sure we remove that thumb from that scale,” he said in Washington. “Today’s action is proof of our commitment to level the playing field in this area.”
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China has nothing to do with the WTO rules. In fact China is against such organizations. It is due to compulsion that China is member of WTO.
All the imperialists getting united against the socialist China. It wouldn't create any difference. China has sound domestic economy.
I thought China doesn’t have much raw materials. Don’t they import most of their raw materials?
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