Space Travel News  
TRADE WARS
European vote against China market status not 'constructive': Beijing
by Staff Writers
Beijing (AFP) May 16, 2016


A European Parliament vote against granting China market economy status in the World Trade Organization was "not at all constructive", Beijing's foreign minister said Monday as he met his French counterpart.

The designation would make it much harder for Brussels to fight Beijing over alleged unfair trading practices.

China joined the WTO in 2001. It argues that accession protocols dictate that it will automatically switch over to market economy status by this December, 15 years later.

But European lawmakers in Strasbourg last week voted overwhelmingly against issuing the designation, concerned that doing so would cost Europe job losses in key industries such as steel.

"We believe that this European Parliament decision was not at all constructive," Chinese Foreign Minister Wang Yi said at a joint press conference with his visiting French counterpart Jean-Marc Ayrault.

Wang urged the EU to take an "objective look" at the issue and respect WTO rules.

"As a member of the WTO, the EU must fulfil its promises and not deny or avoid the issue," he said, adding: "China's wish is clear, simple and reasonable: that everyone should remember the commitments they have made."

China is the world's second-largest economy and the EU's second-largest trading partner, with daily trade flows of over $1 billion.

It is also the world's top steelmaker, producing more than half of global output, and has been accused of flooding the world market with oversupply sold at below cost in violation of global trade rules.

The industry is under state control, and government policy often plays a more important role in business decisions than market factors.

Chinese steel output hit a record 70.65 million tons in March, according to data from China's National Bureau of Statistics. The industry is suffering a massive overcapacity problem.

In the non-binding resolution, MEPs urged that Chinese exports be treated in a "non-standard way" so as to "ensure a level playing field for EU industry and defend EU jobs", the European Parliament said on its website.

The European Commission, the EU's executive arm, has given itself until this summer to decide whether China should be granted market economy status.

Commissioner Vytenis Andriukaitis, Lithuania's representative to the EU executive, told MEPs that the Commission all but ruled out doing so, saying that "any such move would be untenable".


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
TRADE WARS
Australia, US boost efforts to protect steelmakers
Sydney (AFP) May 12, 2016
Canberra and Washington will step up joint efforts to protect domestic steelmakers, Australian Prime Minister Malcolm Turnbull said Thursday, amid concerns about China flooding the market with below-cost products. Turnbull made the remarks after a phone call with US President Barack Obama early Thursday. Steelmakers in both countries are under pressure amid low prices of the alloy - a r ... read more


TRADE WARS
First work platforms powered tested in VAB for Space Launch System

SpaceX successfully lands rockets first stage after space launch

SpaceX lands rocket's first stage after space launch

Agreement Signed for Airbus Safran Launchers

TRADE WARS
Flying observatory detects atomic oxygen in Martian atmosphere

Beyond Ikea: Swedish Gadget to Harvest Water on Martian Surface

Clues about Volcanoes Under Ice on Ancient Mars

Second ExoMars mission moves to next launch opportunity in 2020

TRADE WARS
NASA research gives new insights into how the Moon got inked

First rocket made ready for launch at Vostochny spaceport

Supernova iron found on the moon

Russia to shift all Lunar launches to Vostochny Cosmodrome

TRADE WARS
Icy Hydra's highly reflective surface

Pluto's icy moon Hydra

Pluto's Interaction with the Solar Wind is Unique, Study Finds

Pluto: A Global Perspective

TRADE WARS
Kepler space telescope finds another 1284 exo planets

Scientists discover potentially habitable planets

MIT compiles list of potential gases to guide search for life on exoplanets

Three potentially habitable worlds found around nearby ultracool dwarf star

TRADE WARS
US engineers inspecting all Russian RD-180 engines amid determined anomaly

Why Washington cannot ban Russia's RD-180 rocket engines

Date set for second SLS Booster qualification ground test

US to reduce dependence on Russian rocket engines soon: Bolden

TRADE WARS
Long March-7 rocket delivered to launch site

China's space technology extraordinary, impressive says Euro Space Center director

China can meet Chile's satellite needs: ambassador

China launches Kunpeng-1B sounding rocket

TRADE WARS
DSI and Luxembourg partner to commercialize space resources

Comet from Oort Cloud brings clues about solar system's origins

Elektra: A New Triple Asteroid

New Ceres Images Show Bright Craters









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news 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. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.