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Ah Tiong who exposes fake martial arts is exposing fake 'patriotism' in China
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Economics
India Criticizes Chinese Trade Policies
By
Philip Heijmans
9 September 2019, 13:23 GMT+8
Subrahmanyam Jaishankar Photographer: Stanislav Krasilnikov\TASS via Getty Images
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2958461Z
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Indian External Affairs Minister Subrahmanyam Jaishankar on Monday criticized China for what he described as one-sided trade policies, casting doubt over the progress of negotiations for a pan-Asian free trade agreement.
Speaking during a panel discussion in Singapore, the minister said India remained skeptical over “unfair” market access and “Chinese protectionist policies” that have created a significant trade deficit between the two nations. India’s trade deficit with China was $53.6 billion in the fiscal year ended March 2019.
“The big concerns of India are of course, one, its relationship with China because we have an enormous trade deficit with China,” Jaishankar said in response to a question regarding the ongoing negotiations for Regional Comprehensive Economic Partnership, or RCEP.
Read more: Dreams of an Asia-Pacific Trade Pact by Year-End Fading Again
Negotiators have expressed hope that RCEP -- which includes all 10 of Southeast Asia’s Asean countries, as well as Japan, South Korea, Australia, New Zealand, India and China -- would be delivered by the end of the year. While ministers from the 16 participating countries reaffirmed their commitment to reaching a deal this year following negotiations in Bangkok over the weekend, it is unclear whether such a goal will be met.
Jaishankar said he was unsure what was discussed in the latest round of negotiations, but noted that India’s involvement would hinge on a mutually equitable, depoliticized arrangement.
“RCEP at the end of the day is an economic negotiation. It has a strategic implication, but the merits of the RCEP outcome have to be economic,” said Jaishankar. “It has to be sold for its strength and I think if that was more self-evident to Indians I think you would get clearly a much stronger resonance.”
Singaporean Foreign Minister Vivian Balakrishnan, who was also on the panel, urged India to reconsider its position on RCEP, saying that Beijing and New Delhi would have to come to terms on trade eventually.
“I am making the argument that it is worth making the effort, because this would be a game changer,” Balakrishnan said.
India Criticizes Chinese Trade Policies
By
Philip Heijmans
9 September 2019, 13:23 GMT+8
Subrahmanyam Jaishankar Photographer: Stanislav Krasilnikov\TASS via Getty Images
SHARE THIS ARTICLE
Share
Tweet
Post
In this article
2958461Z
REGIONAL
Private Company
Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here.
Indian External Affairs Minister Subrahmanyam Jaishankar on Monday criticized China for what he described as one-sided trade policies, casting doubt over the progress of negotiations for a pan-Asian free trade agreement.
Speaking during a panel discussion in Singapore, the minister said India remained skeptical over “unfair” market access and “Chinese protectionist policies” that have created a significant trade deficit between the two nations. India’s trade deficit with China was $53.6 billion in the fiscal year ended March 2019.
“The big concerns of India are of course, one, its relationship with China because we have an enormous trade deficit with China,” Jaishankar said in response to a question regarding the ongoing negotiations for Regional Comprehensive Economic Partnership, or RCEP.
Read more: Dreams of an Asia-Pacific Trade Pact by Year-End Fading Again
Negotiators have expressed hope that RCEP -- which includes all 10 of Southeast Asia’s Asean countries, as well as Japan, South Korea, Australia, New Zealand, India and China -- would be delivered by the end of the year. While ministers from the 16 participating countries reaffirmed their commitment to reaching a deal this year following negotiations in Bangkok over the weekend, it is unclear whether such a goal will be met.
Jaishankar said he was unsure what was discussed in the latest round of negotiations, but noted that India’s involvement would hinge on a mutually equitable, depoliticized arrangement.
“RCEP at the end of the day is an economic negotiation. It has a strategic implication, but the merits of the RCEP outcome have to be economic,” said Jaishankar. “It has to be sold for its strength and I think if that was more self-evident to Indians I think you would get clearly a much stronger resonance.”
Singaporean Foreign Minister Vivian Balakrishnan, who was also on the panel, urged India to reconsider its position on RCEP, saying that Beijing and New Delhi would have to come to terms on trade eventually.
“I am making the argument that it is worth making the effort, because this would be a game changer,” Balakrishnan said.
I am just trying to highlight the thieving, cheating, faking characters of supposedly high iq chinese who will never get a job in wall street of silicon valley top notch firms. Only at chinese take outs
like that also got people complain and make
a fuss.
a country can choose which country to
trade with . why kpkp after doing it ?
if deal is unfair, why do the deal in the first
place ?
a fuss.
a country can choose which country to
trade with . why kpkp after doing it ?
if deal is unfair, why do the deal in the first
place ?
Thats why they want to stop trading with china.
This is call the Indian calling the Chinese black. India is most protectionistic, sign and agree then back out ask for more concession. U not bargain with an India man?Economics
India Criticizes Chinese Trade Policies
By
Philip Heijmans
9 September 2019, 13:23 GMT+8
Subrahmanyam Jaishankar Photographer: Stanislav Krasilnikov\TASS via Getty Images
SHARE THIS ARTICLE
Share
Tweet
Post
In this article
2958461Z
REGIONAL
Private Company
Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here.
Indian External Affairs Minister Subrahmanyam Jaishankar on Monday criticized China for what he described as one-sided trade policies, casting doubt over the progress of negotiations for a pan-Asian free trade agreement.
Speaking during a panel discussion in Singapore, the minister said India remained skeptical over “unfair” market access and “Chinese protectionist policies” that have created a significant trade deficit between the two nations. India’s trade deficit with China was $53.6 billion in the fiscal year ended March 2019.
“The big concerns of India are of course, one, its relationship with China because we have an enormous trade deficit with China,” Jaishankar said in response to a question regarding the ongoing negotiations for Regional Comprehensive Economic Partnership, or RCEP.
Read more: Dreams of an Asia-Pacific Trade Pact by Year-End Fading Again
Negotiators have expressed hope that RCEP -- which includes all 10 of Southeast Asia’s Asean countries, as well as Japan, South Korea, Australia, New Zealand, India and China -- would be delivered by the end of the year. While ministers from the 16 participating countries reaffirmed their commitment to reaching a deal this year following negotiations in Bangkok over the weekend, it is unclear whether such a goal will be met.
Jaishankar said he was unsure what was discussed in the latest round of negotiations, but noted that India’s involvement would hinge on a mutually equitable, depoliticized arrangement.
“RCEP at the end of the day is an economic negotiation. It has a strategic implication, but the merits of the RCEP outcome have to be economic,” said Jaishankar. “It has to be sold for its strength and I think if that was more self-evident to Indians I think you would get clearly a much stronger resonance.”
Singaporean Foreign Minister Vivian Balakrishnan, who was also on the panel, urged India to reconsider its position on RCEP, saying that Beijing and New Delhi would have to come to terms on trade eventually.
“I am making the argument that it is worth making the effort, because this would be a game changer,” Balakrishnan said.
Pot call the kettle black. Anehs are just as bad.
Nonetheless MICH MUCH NETTET THAN CAMEL FUCKING ARABS....INCL THE INE WHO FUCKED A PUNDEK THINKING SHE WAS MELAYU MACHIK
This is call the Indian calling the Chinese black. India is most protectionistic, sign and agree then back out ask for more concession. U not bargain with an India man?
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Opinion
India in a tight corner over trade policies
Biswajit Dhar Updated on June 16, 2019
Under pressure A host of nations want India to open up its market more
Under pressure A host of nations want India to open up its market more | Photo Credit: Spectral-Design
The US has launched a frontal assault on India’s tariffs and subsidies, with others joining in. A medium-term strategy is essential
The Modi government’s second term in office has begun with the country’s foreign trade policy facing multiple challenges. The day the government took office, President Donald Trump announced his decision to withdraw the benefits of Generalised System of Preferences (GSP), effective from June 5.
The US administration has also questioned India’s subsidies to both industry and agriculture. Several other countries, including Brazil, Australia have also challenged India’s agricultural subsidies, they argue, are inconsistent with the WTO’s Agreement on Agriculture (AoA). At the same forum, the European Union (EU) and Japan have questioned the government’s decision to increase tariffs on mobile phones.
Finally, India is also under considerable pressure to undertake extensive trade liberalisation via the Regional Comprehensive Economic Partnership (RCEP). This regional trade agreement seeks across-the-board tariff elimination, including agriculture, which is among India’s most sensitive sectors. China’s presence among the 16 RCEP participating countries has left India’s manufacturing industry worried.
The US’s removal of India from its GSP-beneficiary list was not unexpected. In early March, President Trump notified to the Congress his decision to remove India from the list of countries, which enjoy duty-free access to the US market in 3,700 products.
President Trump has often argued that US’s trade deficit with India must be reduced by “curbing” India’s “unfair trading practices”. Withdrawal of GSP benefits is, therefore, one further step taken by the US to whittle down India’s trade surplus with the US; the first was the increase in tariffs on steel and aluminium in 2018.
The challenge for the new government is to prepare an effective strategy to deal with a resolute US trying to pry open India’s market. The US could target sectors with high tariffs; a few in the manufacturing sector and agriculture and allied sectors. During the consultations after India was put on notice in March 2019, the US had demanded that India allow imports of agriculture, milk, and poultry products. It is difficult to perceive how India can relent, given its domestic compulsions.
Retaliatory tariffs
The first response from the new government has already been announced; retaliatory tariffs on 29 products. This list was drawn up after the US imposed tariffs on steel and aluminium. India’s expectation was that it was providing room for dialogue by not retaliating. This gesture has clearly not worked, as the Trump administration has relentlessly pressured India, by removing India from its GSP-list, among others. It was, therefore, necessary for India to respond appropriately. India has now put its cards on the table with which it can now negotiate with the US.
The challenges that India faces in the WTO are more formidable since the issues that have been raised could affect several sectors, not the least, agriculture. At stake are three issues: export subsidies for non-agricultural products, agricultural subsidies, and India’s recent tariff increases for mobile phones.
In 2018, the US complained to WTO’s Dispute Settlement Body (DSB) against India’s major export subsidies, namely, Merchandise Exports from India Scheme (MEIS), Export Oriented Units Scheme and support extended to Special Economic Zones. India could use these subsidies so long as its per capita GNP was below $1,000. With India’s GNP having exceeded this threshold, export subsidies came under the scanner. The initial response of the government on the issue of export subsidies is forward looking.
The new Commerce and Industry minister gave an unambiguous message in his first meeting of the Board of Trade on June 6, that industry would have to think beyond subsidies and to seek ways of improving efficiency.
Farm subsidies
Several countries have targeted India’s agriculture subsidies. They argued that these subsidies are well above the limit set by the AoA, which is 10 per cent of the value of production for every product. The US has questioned subsidies provided to rice and wheat, while Brazil, Australia and Guatemala have gone a step further and have initiated disputes against India’s sugarcane subsidies.
Three more countries, Thailand, Costa Rica and the Russian Federation have joined the dispute as third parties. The complainants argue that India has substantially increased production-related subsidies for sugarcane provided by both the Central and State governments and, as a result, the country has breached its commitment to limit sugarcane subsidies.
The complainants also argue that the Central and State governments provide subsidies for exporting sugar, which it cannot under the AoA rules, since these subsidies were notified to the WTO. Thus, the politically sensitive sugarcane faces testing times.
In his 2018-19 Budget Speech, the then Finance Minister announced the government’s decision to increase import tariffs on mobile phones to encourage domestic manufacturing. The EU and Japan have challenged this decision, complaining to the DSB that India had agreed not to impose tariffs on these products. Six other countries, Thailand, Canada, China, Chinese Taipei, the US and Singapore, have joined the dispute as third parties. The disputes challenge the government’s policy to use import tariffs to not only provide protection to the domestic producers from import competition, but to also indirectly incentivise domestic production.
The most significant of the challenges awaiting the government is the future course of RCEP negotiations. The negotiations were on hold for the past few months as the governments in two of the largest economies, India and Indonesia, were seeking fresh mandates from their electorates. Countries driving the RCEP negotiations have been seeking deep cuts in import tariffs in almost all sectors.
While this is the most immediate challenge from the RCEP, inclusion of areas like e-commerce and investment could bring commitments that conflict with the policies of the government. For instance, India has firmly stated its position on data localisation, which several RPCs (RCEP participating countries) do not support. Also, India has its model investment protection law that is different from the one that is backed by RPCs.
After nearly three decades of its tryst with globalisation, India’s trade policy faces formidable challenges.
Most of the challenges stem from structural infirmities in the domestic economy, which require a medium-term perspective. The government must recognise that it has obtained the political mandate to develop such a perspective.
The writer is Professor at the Centre for Economic Studies and Planning, JNU, New Delhi
Published on June 16, 2019
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OPINIONPublished July 28, 2018 Last Update July 27, 2018
China started the trade war, Trump is just trying to end it
Andy Puzder By Andy Puzder, | Fox News
Continue Reading Below
President Trump didn’t start a trade war with China – he’s trying to end and win the trade war that China launched against the U.S. As the president has frequently pointed out, the Chinese have been undermining the world trade system for years, and no country has been hurt more by China’s unfair actions than America.
America’s trade deficit with China is so large it almost defies comprehension. Since 2012, our yearly deficit in the trade of goods with China has consistently topped $300 billion. Last year, it was over $375.5 billion. In the first five months of this year it topped $150 billion.
A primary reason for this imbalance is that the Chinese have been blocking American manufacturers and food producers for years through discriminatory trade rules and prohibitively expensive import tariffs designed to keep U.S. products out of its domestic markets.
It’s not that American firms are unable to compete with Chinese companies. Rather, it’s because China systematically takes measures to protect its industries and businesses from having to compete with American companies on a level playing field.
The Chinese government gives huge subsidies to its own firms and excludes foreign companies from doing business in China. It regulates foreign firms unfairly, blocks imports through dishonest health and safety rules, and creates China-specific standards to prevent market entry.
Continue Reading Below
In addition, China forces foreign firms to transfer their technology to Chinese companies and comprehensively loots commercial secrets, especially from American firms.
No one (outside of Chinese officials) denies any of this. In March, the U.S.-China Economic and Security Review Commission – a bipartisan congressional advisory body – published a list of 10 ways China cheats on trade called “China’s Technonationalism Toolbox.”
This list includes China’s continued “pervasive industrial espionage against U.S. companies, universities, and the government” as well as China’s “direct efforts to circumvent U.S. export controls to gain access to cutting-edge technologies and intellectual property in strategic sectors.”
China’s subversion of world trading norms isn’t a bug in the nation’s economic system. It’s a feature.
Even Democrats recognize the importance of President Trump’s trade sanctions on China.
“We're now told that this is Trump's trade war,” Rep. Brad Sherman, D-Calif., said during a Foreign Affairs subcommittee hearing earlier this month. “No, China declared (a) trade war on the United States 18 years ago,” he continued, referring to the decision to normalize trade relations with China in 2000.
Both Senate Minority Leader Chuck Schumer of New York and Sen. Elizabeth Warren of Massachusetts, two of President Trump’s most vocal Democratic critics, are broadly supportive of the president’s measures to combat Chinese cheating.
“I have to say, when President Trump says he's putting tariffs on the table, I think tariffs are one part of reworking our trade policy overall," Warren told CNN in March.
“China takes total advantage of the United States. They steal our intellectual property using cyber theft,” Schumer noted in June. “Not only do they steal our intellectual property, they keep our good companies out, and say the only way you’re going to be able to sell your American products in China … is if you come to China.”
Because presidents before him avoided doing what was necessary to balance our trade relations with China, President Trump has to fight a trade war not of his own making. Fortunately for American workers, manufacturers and exporters, the president is fighting back against China and other nations that have been ripping off America for decades.
This will be a difficult struggle, because other nations are unwilling to give up the benefits of unfair trade. They will test President Trump’s resolve, particularly as we approach the midterm elections in November. But thanks to President Trump’s leadership, we are beginning to see that this is a war we can win.
In May, China agreed to slash car tariffs and import more American-made products due to President Trump’s tough negotiating skills.
Free trade requires fair trade, based on a common set of mutually beneficial rules. We finally have a president willing to take the actions necessary to put a stop to Chinese cheating and to protect America’s national interests.
President Trump isn’t just fighting to stop Chinese market manipulation. He’s fighting to secure a bright economic future for America and the American people.
Andy Puzder was chief executive officer of CKE Restaurants for more than 16 years, following a career as an attorney. He was nominated by President Trump to serve as U.S. labor secretary. In 2011, Puzder co-authored "Job Creation: How It Really Works and Why Government Doesn't Understand It." His latest book is "The Capitalist Comeback: The Trump Boom and the Left's Plot to Stop It" (Center Street, April 24, 2018).
Terms of UseUpdated Privacy Policy(What's Changed)Closed Captioning PolicyHelpContact Us
This material may not be published, broadcast, rewritten, or redistributed. ©2019 FOX News Network, LLC. All rights reserved. All market data delayed 20 minutes.
☰
OPINIONPublished July 28, 2018 Last Update July 27, 2018
China started the trade war, Trump is just trying to end it
Andy Puzder By Andy Puzder, | Fox News
Continue Reading Below
President Trump didn’t start a trade war with China – he’s trying to end and win the trade war that China launched against the U.S. As the president has frequently pointed out, the Chinese have been undermining the world trade system for years, and no country has been hurt more by China’s unfair actions than America.
America’s trade deficit with China is so large it almost defies comprehension. Since 2012, our yearly deficit in the trade of goods with China has consistently topped $300 billion. Last year, it was over $375.5 billion. In the first five months of this year it topped $150 billion.
A primary reason for this imbalance is that the Chinese have been blocking American manufacturers and food producers for years through discriminatory trade rules and prohibitively expensive import tariffs designed to keep U.S. products out of its domestic markets.
It’s not that American firms are unable to compete with Chinese companies. Rather, it’s because China systematically takes measures to protect its industries and businesses from having to compete with American companies on a level playing field.
The Chinese government gives huge subsidies to its own firms and excludes foreign companies from doing business in China. It regulates foreign firms unfairly, blocks imports through dishonest health and safety rules, and creates China-specific standards to prevent market entry.
Continue Reading Below
In addition, China forces foreign firms to transfer their technology to Chinese companies and comprehensively loots commercial secrets, especially from American firms.
No one (outside of Chinese officials) denies any of this. In March, the U.S.-China Economic and Security Review Commission – a bipartisan congressional advisory body – published a list of 10 ways China cheats on trade called “China’s Technonationalism Toolbox.”
This list includes China’s continued “pervasive industrial espionage against U.S. companies, universities, and the government” as well as China’s “direct efforts to circumvent U.S. export controls to gain access to cutting-edge technologies and intellectual property in strategic sectors.”
China’s subversion of world trading norms isn’t a bug in the nation’s economic system. It’s a feature.
Even Democrats recognize the importance of President Trump’s trade sanctions on China.
“We're now told that this is Trump's trade war,” Rep. Brad Sherman, D-Calif., said during a Foreign Affairs subcommittee hearing earlier this month. “No, China declared (a) trade war on the United States 18 years ago,” he continued, referring to the decision to normalize trade relations with China in 2000.
Both Senate Minority Leader Chuck Schumer of New York and Sen. Elizabeth Warren of Massachusetts, two of President Trump’s most vocal Democratic critics, are broadly supportive of the president’s measures to combat Chinese cheating.
“I have to say, when President Trump says he's putting tariffs on the table, I think tariffs are one part of reworking our trade policy overall," Warren told CNN in March.
“China takes total advantage of the United States. They steal our intellectual property using cyber theft,” Schumer noted in June. “Not only do they steal our intellectual property, they keep our good companies out, and say the only way you’re going to be able to sell your American products in China … is if you come to China.”
Because presidents before him avoided doing what was necessary to balance our trade relations with China, President Trump has to fight a trade war not of his own making. Fortunately for American workers, manufacturers and exporters, the president is fighting back against China and other nations that have been ripping off America for decades.
This will be a difficult struggle, because other nations are unwilling to give up the benefits of unfair trade. They will test President Trump’s resolve, particularly as we approach the midterm elections in November. But thanks to President Trump’s leadership, we are beginning to see that this is a war we can win.
In May, China agreed to slash car tariffs and import more American-made products due to President Trump’s tough negotiating skills.
Free trade requires fair trade, based on a common set of mutually beneficial rules. We finally have a president willing to take the actions necessary to put a stop to Chinese cheating and to protect America’s national interests.
President Trump isn’t just fighting to stop Chinese market manipulation. He’s fighting to secure a bright economic future for America and the American people.
Andy Puzder was chief executive officer of CKE Restaurants for more than 16 years, following a career as an attorney. He was nominated by President Trump to serve as U.S. labor secretary. In 2011, Puzder co-authored "Job Creation: How It Really Works and Why Government Doesn't Understand It." His latest book is "The Capitalist Comeback: The Trump Boom and the Left's Plot to Stop It" (Center Street, April 24, 2018).
Terms of UseUpdated Privacy Policy(What's Changed)Closed Captioning PolicyHelpContact Us
This material may not be published, broadcast, rewritten, or redistributed. ©2019 FOX News Network, LLC. All rights reserved. All market data delayed 20 minutes.
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