US Warns Europe Against Granting MES to China

Published in China Times
(Taiwan) on 30 December 2015
by Hui-yu Tai (link to originallink to original)
Translated from by Anthony Chantavy. Edited by Melanie Rehfuss.
Having waited for 15 years, China will acquire market economy status next year within the World Trade Organization. But a U.S. official recently warned the European Union that when it does, it would be tantamount to unilateral disarmament of the U.S. defense shield in Europe, making it difficult to resist the attack of China's price dumping. This official secretly criticizes the EU for hastily favoring China as a large investment.

In 2001, China was forced to accept a 15-year non-market economy status to join the WTO. According to rules and regulations, when an importing country conducts anti-dumping investigations on Chinese goods, but does not use internal data provided by mainland China, it compares the prices of these goods with those of countries of similar development levels, then creates an anti-dumping duty.

Europe's Mixed Feelings

However, as soon as China smoothly acquires MES, the above-mentioned scenario cannot happen. Even if Europe and the U.S. try to resort to old methods now that they need to give more detailed investigations, it will be even more difficult to hope for high anti-dumping or anti-subsidy duties.

The U.S. publicly opposes China's MES, and Europe has mixed feelings. According to the Financial Times, European supporters include the European Commission, German Chancellor Angela Merkel, and U.K. Chancellor of the Exchequer George Osborne; opponents are mainly headed by Italy, ranging from governments and trade associations to steel, ceramic and fabric industries.

A U.S. official secretly believes that the EU is finding every way to curry favor with China to save the economy. Since this year, crises such as Greece and its refugees are hurting Europe's economy, causing the EU to turn to cooperating with China. It is as if China's "One Belt, One Road" strategy meets Europe's $100 billion investment plan, and China is being accepted as a shareholder for the European Bank for Reconstruction and Development.

Five Crisis Risks of 2017

Clearly, China's MES desire is no easy issue. In fact, China's domestic economy has a battle to fight as well. Bloomberg Business points out that China's economy will face five major risks next year in this order: unrest about RMB rates, increased capital outflow, severe empty property rates, an increase in bad loans and shadow banking. Economists and analysts worry that any of these risks can trigger a sudden fall in China's economy or ignite a systematic threat to its financial industry.


等了15年,中国明年将在世界贸易组织(WTO)取得市场经济地位(Market Economy Status,MES),但美国官员近来警告欧盟,一旦承认,等于是「单方面解除」欧美防御「盾牌」,届时将难挡中国廉价產品倾销的「攻击」。该官员私下不客气批评,称欧盟为了得到大笔投资,不惜以此举来讨好中国。

中国在2001年为了加入WTO,被迫接受为期15年的非市场经济地位。根据规则,进口国对中国商品进行反倾销调查时,可不採用大陆内部所提供的数字,另挑选其发展程度相当国家的价格来做比较,并课徵反倾销税。

欧洲内部持正反意见

不过,一旦中国明年能顺利取得市场经济地位,则上述情况将不復存在。即使欧美想故技重施,困难度也提高,除了需要提出更详尽的调查过程,也更难祭出高额的反倾销、反补贴税。

对于给予中国市场经济地位一事,美国公开表示反对,而欧洲内部正反意见都有。根据英国《金融时报》,欧洲支持者有欧盟委员会、德国总理梅克尔与英国财政大臣欧斯本(George Osborne);反对者则以义大利为首,一路从政府、公会,到钢铁、陶瓷、纺织品等传统產业。

美国官员私下认为,欧盟为了救经济正在想尽办法讨好中国。今年以来,希腊、难民等危机重挫欧洲经济,使欧盟开始转向中国寻求合作,像是宣布对接「一带一路」战略与千亿级的欧洲投资计画,并接受中国成为欧洲復兴开发银行(EBRD)的股东。

明年5风险 恐引危机

显然地,中国想要取得市场经济地位并非易事。事实上,中国国内经济也有一场硬仗要打,彭博指明年中国经济存在5大风险,依序是人民币匯率动盪、资本加速外流、严重空屋率、不良贷款增加跟影子银行。经济学家与分析师都担心,任一风险升温都可能触发中国经济增速急剧下滑,或引爆金融行业系统性风险。

(旺报)
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