China buying Iranian oil is what is keeping Iran afloat and Israel+the US want this to stop .Not going to happen
Miscellaneous News
- Thread starter bd popeye
- Start date
Like the famous Kissinger quote goes "To be an enemy of the US can be dangerous, but to be a friend is fatal."
More like being VASSALS, and that's a mild way I put it.
We should keep an eye on the upcoming twelfth WTO (World Trade Organization) ministerial conference from 30 december - 3 november where those three plan to join hands against China because 'muh unfair trade practices' (read industrial subsidies and state-owned enterprises).
The three plan to meet on the sidelines of the upcoming WTO ministerial meeting taking place in Geneva, Switzerland, at the end of the month where they will aim to set out a work program for the following weeks, one of the people said.
The talks, which are built on a Trump-era initiative with the EU and Japan, aim to establish new international rules to restrict the market-distorting behavior of state-owned enterprises, confront harmful subsidy practices and deter forced technology transfers and intellectual property theft.
A spokesman for the office of the U.S. trade representative didn’t immediately respond to a request for comment. An EU spokesperson couldn’t be immediately reached for comment.
The initiative seeks to rein in China’s massive state aid to strategic domestic industries -- like steel and aluminum -- through tax benefits, government grants, energy subsidies, preferential lending and financing, under-priced inputs and cheap land-use fees.
Officials in Washington estimate the Chinese government offered more than in state aid to key industrial sectors via the Made in China 2025 and related industrial plans.
The trilateral effort was endorsed earlier this year by trade ministers from the world’s seven largest advanced economies, who said they want to bolster regulations on industrial subsidies and curb actions by state-owned companies that distort trade.
The Group of Seven’s goal in the talks, which have been ongoing since 2017, is to produce an agreement that might eventually be adopted by the members of the World Trade Organization.
But getting China to join the talks, which are ostensibly aimed at restricting Beijing’s state-led economic model, remains a major hurdle.
In July China’s ambassador to the WTO said there’s scope for Beijing to participate in the initiative but said new international trade rules should not be negotiated in China’s absence and then presented as a fait accompli.
If China plays ball, the negotiations could represent the most significant attempt to rewrite WTO rules since the ultimately unsuccessful Doha Round of trade negotiations was launched in 2001.
At the meeting in Geneva, the three partners will aim to sketch out a work plan focused on identifying issues due to non-market practices, gaps in existing enforcement tools and where more work is needed to develop new tools and rules to tackle such practices, said one of the people.
Source:
U.S., EU, Japan to Renew Alliance Against China Trade Practices
- Three economies to work on plans at WTO talks in late-November
- China’s state aid, market-distorting policies drew criticism
The three plan to meet on the sidelines of the upcoming WTO ministerial meeting taking place in Geneva, Switzerland, at the end of the month where they will aim to set out a work program for the following weeks, one of the people said.
The talks, which are built on a Trump-era initiative with the EU and Japan, aim to establish new international rules to restrict the market-distorting behavior of state-owned enterprises, confront harmful subsidy practices and deter forced technology transfers and intellectual property theft.
A spokesman for the office of the U.S. trade representative didn’t immediately respond to a request for comment. An EU spokesperson couldn’t be immediately reached for comment.
The initiative seeks to rein in China’s massive state aid to strategic domestic industries -- like steel and aluminum -- through tax benefits, government grants, energy subsidies, preferential lending and financing, under-priced inputs and cheap land-use fees.
State Support
The announcement comes days after U.S. President Joe Biden met virtually with Chinese leader Xi Jinping. In the 3 1/2-hour sit-down on Monday evening, Biden made clear his concerns with China’s non-market economic practices, U.S. officials said.Officials in Washington estimate the Chinese government offered more than in state aid to key industrial sectors via the Made in China 2025 and related industrial plans.
The trilateral effort was endorsed earlier this year by trade ministers from the world’s seven largest advanced economies, who said they want to bolster regulations on industrial subsidies and curb actions by state-owned companies that distort trade.
The Group of Seven’s goal in the talks, which have been ongoing since 2017, is to produce an agreement that might eventually be adopted by the members of the World Trade Organization.
But getting China to join the talks, which are ostensibly aimed at restricting Beijing’s state-led economic model, remains a major hurdle.
In July China’s ambassador to the WTO said there’s scope for Beijing to participate in the initiative but said new international trade rules should not be negotiated in China’s absence and then presented as a fait accompli.
If China plays ball, the negotiations could represent the most significant attempt to rewrite WTO rules since the ultimately unsuccessful Doha Round of trade negotiations was launched in 2001.
At the meeting in Geneva, the three partners will aim to sketch out a work plan focused on identifying issues due to non-market practices, gaps in existing enforcement tools and where more work is needed to develop new tools and rules to tackle such practices, said one of the people.
Source:
Position of strength? LOL...
The meeting took place 8:45am to noon Beijing time, just another morning at work for Xi and Co., but 7:45pm to 11pm Washington time the previous evening for Biden and gang. It was a small miracle that Sleepy didn't fall asleep, it was way past his bedtime...
There was only a 15min break during the meeting.
Working so late into the night for team USA, possible demonstration of "strength"???
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Talk talk talk. Initiative this, initiative that, alliance here, alliance there.
While they all talk with each other, China keeps working. Every year that they waste talking, is another year that China is accelerating its rise
I mean if they can actually cook up something that they then present to the WTO, that would quite be something.
Although it would also need to be passed and then actually upheld (also western nations are also doing subsidies, lending etc. lol).
And look who's taking notes like a little school boy. "Position of strength" did someone say?
Lol while the EU, US and Japan are all talking about boosting their high tech sectors with government funding 