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Trading - Europe - EU Presses China to Ease Trade Limits, Threatens WTO Complaint
Brussels,Belgium -Bloomberg -Nov. 7, 2005: -- The European Union urged China to eliminate trade restrictions harming companies from Arcelor SA to Volkswagen AG and threatened to bring its first World Trade Organization complaint against the communist nation... The EU is stepping up pressure on China to remove trade- distorting limitations as it considers whether to accept the Asian country as a market economy... The emergence of China as a manufacturing superpower has fueled complaints about its labor and economic rules around the world... Peter Power, said the EU may ask the WTO to outlaw Chinese rules limiting foreign ownership of automobile plants... Automotive companies say they're unfairly treated by the Chinese government, which prevents them from full ownership of carmakers. Volkswagen, Fiat SpA and PSA Peugeot Citroen must form joint ventures with Chinese companies to gain access to the market in the world's most populous nation... Bo wants Mandelson to accept that the reforms already enacted by his country, including joining the WTO in 2001, merit market-economy status... Winning this recognition would help China resist punitive duties imposed on its exports...
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