by Staff Writers
Geneva (AFP) Oct 15, 2012
Mexico has called for discussions at the World Trade Organisation on Chinese support for its textile companies, a statement said on Monday.
Mexico said it sought the talks "because China appears to maintain a wide variety of measures that support producers and exporters of apparel and textile products, both directly and indirectly."
The measures mentioned by Mexico included alleged subsidies like tax exemptions or reductions, and import duty refunds that would be inconsistent with China's committments to the WTO, the statement said.
Also on the long list of potential issues were "extended loan repayment periods, and debt forgiveness provided by state-owned banks" and "cash payments from Chinese government agencies at all levels to enterprises active in designated industries."
Requests for consultations represent the initial stage of formal WTO dispute procedures.
If a solution is not found within 60 days, the country that initiates the action can ask that the issue be taken up by an internal WTO body for further consideration.
Global Trade News
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China IMF boycott 'a sign of things to come': analysts
Tokyo (AFP) Oct 14, 2012
China's top level boycott of global financial meetings in Japan this week is a sign of things to come, analysts say, as an economically emboldened Beijing shows struggling Western nations it doesn't need to play by their rules. With global growth slowing, many in the developed world are looking to Beijing to pick up the slack, and the annual meetings of the International Monetary Fund and Wo ... read more
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