China's achievements are somewhat marred by a confrontation of markets with the USA. Noted are lawsuits pending about unfair practices by China that impact the solar industry. The solar industry is the latest industry and probably the most dramatic example of how the Chinese can easily dominate the markets with cheaper products from cheap labor. While it is understandable that China uses its labor force to its advantage, it is problem for global economic recovery.
Nevertheless, (click here) Washington is getting serious about trade distortions between the U.S. and China. The U.S. trade deficit with China is at an all time high, hitting $189 billion in the months ending Aug. 31, 2011.
Last week, the U.S. Commerce Department said it had found Chinese companies to be dumping steel wheels and setting duties ranging from 110.58 to 193.54% on U.S. imports. Also in recent days, a group of U.S. solar cell and solar panel makers filed a trade complaint against China, accusing the country of illegally dumping silicon solar cells and panels through massive subsidies. The sector is one of China’s crown jewels in its green technology portfolio. Solar cell panel production is dominated by the Chinese. Last Wednesday, Deputy U.S. Trade Representative Demetrios Marantis said the U.S. had investigated over 200 Chinese domestic subsidy programs and is “going to keep pushing China and use all the tools,” China Daily reported.
And whom exactly is opposing the legislation to maintain China's trade distortions that are sapping the income from the USA Middle Class? The House Republicans that state they will oppose the legislation that will begin to return the balance of trade between the USA and China.
President Hu Jintao and his Austrian counterpart Heinz Fischer attend a news conference after talks at the Hofburg palace in Vienna on Monday. [Photo by Ronald Zak/Associated Press]
Continent has ability to overcome present difficulties, president says (click here)
VIENNA / BEIJING - China has confidence in Europe overcoming its present difficulties, President Hu Jintao said on Monday ahead of a key global summit which will focus on the eurozone debt crisis.
"China looks positively at EU development and is following the economic development under the current difficulties with attention," Hu told reporters after meeting his Austrian counterpart Heinz Fischer in Vienna....
Nevertheless, (click here) Washington is getting serious about trade distortions between the U.S. and China. The U.S. trade deficit with China is at an all time high, hitting $189 billion in the months ending Aug. 31, 2011.
Last week, the U.S. Commerce Department said it had found Chinese companies to be dumping steel wheels and setting duties ranging from 110.58 to 193.54% on U.S. imports. Also in recent days, a group of U.S. solar cell and solar panel makers filed a trade complaint against China, accusing the country of illegally dumping silicon solar cells and panels through massive subsidies. The sector is one of China’s crown jewels in its green technology portfolio. Solar cell panel production is dominated by the Chinese. Last Wednesday, Deputy U.S. Trade Representative Demetrios Marantis said the U.S. had investigated over 200 Chinese domestic subsidy programs and is “going to keep pushing China and use all the tools,” China Daily reported.
And whom exactly is opposing the legislation to maintain China's trade distortions that are sapping the income from the USA Middle Class? The House Republicans that state they will oppose the legislation that will begin to return the balance of trade between the USA and China.
Continent has ability to overcome present difficulties, president says (click here)
VIENNA / BEIJING - China has confidence in Europe overcoming its present difficulties, President Hu Jintao said on Monday ahead of a key global summit which will focus on the eurozone debt crisis.
"China looks positively at EU development and is following the economic development under the current difficulties with attention," Hu told reporters after meeting his Austrian counterpart Heinz Fischer in Vienna....
