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Free Markets? - China - Changes the rules to limit free competition
Detroit,Mich,USA -The Detroit News -by Michael Dunne -May 31, 2006: -- You never hear China declaring admiration for free markets. The leadership is more comfortable with managed competition... "We will always balance our rights [as members] against our obligations," said former President Jiang Zemin when China entered the WTO in 2001. Translation: When developments look unfavorable, China reserves the option to change the rules... China has two key points working in its favor: First, the EU last year unilaterally increased tariffs on textiles from China. So, there is precedent for making up rules as you go along... Second, and more important, is the Middle Kingdom's negotiating power. China's trading "rights" will increasingly carry a little more weight than its "obligations"... Farewell, free markets...
posted by Unknown @ 4:01 PM
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