New fronts in times of global recession

The US and the European Union have filed a joint complaint with the World Trade Organisation (WTO) against Chinese export restrictions on raw materials. The business paper Il Sole 24 Ore writes that this means an opening of new fronts in times of global recession. "China will have to answer the charges of the European Union and the United States from the dock of the World Trade Organisation. Twice in the past the EU and US have filed joint complaints with the WTO against Chinese business practices. But this latest European-American action opens an explosive front on China. Precisely because in this phase of global recession and growing competition on international markets, the implicit taxes on exports imposed by the Chinese government only add to the distortion in trade and force many European and American companies into the trap of rising prices for raw materials."

» more information (external link, Italian)
More from the press review on the subject » International Relations, » Trade, » Europe, » U.S., » China
All available articles from » Enrico Rivio

» To the complete press review of Wednesday, June 24, 2009