Posts
- Stocks fall for fourth day.
- Dollar weaker, gold up.
- Cap-and-trade = $600 billion a year.
- Commercial real-estate "time bomb."
- Fed officials: Economy "vulnerable."
Joe Biden lied again! Pardons Hunter Biden
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I can’t really say I’m mad at this, other than the filthy communist Joe
Biden lying yet again and getting
The post Joe Biden lied again! Pardons Hunter B...
2 hours ago
Following every rock-star party, the hangover.
ReplyDeleteHEY, HOW IS THAT FREE TRADE WORKING OUT? GREAT FOR CHINA IT WOULD SEEM, NOT SO GOOD FOR AMERICANS.
ReplyDeleteChina decides to cut auto part tariffs
by Jonathon Ramsey (RSS feed) on Aug 31st 2009 at 3:31PM
China joined the World Trade Organization in 2001, at which point it was given five years to adjust to the rules of open trade before any complaints were lodged against it. On schedule, in 2006, the complaints began, lodged by the U.S., Europe, and Canada.
In one example of open trade prohibitive practices, Automotive News reports that if a car built in China uses a percentage of imported auto parts above a specific threshold, China taxes each imported part an additional 25%. In such a price-competitive atmosphere, such a policy all but proscribes the use of imported parts, a move that has lead to complaints from all three continents.
The original complaint was decided at the end of last year in a ruling against China. Beijing appealed, to no avail. In response, China has rescinded the tax, which is an initial step to truly opening the market up for foreign parts- and automakers.
The U.S. trade in auto parts to China is not even 1/13th what it is to Mexico, a statistic that a host of companies would clearly like to change.
Realize this is veering the topic off economic gloom, but one asks the question: why would China taxing imported car parts be a major point of contention on the world stage?
ReplyDeleteAt least one factor is its population. Lots of people means there is a market and a labor pool. And when those people know how to build things well, they become a competitor.
I notice no one is lodging a complaint against the import tax laws of Afghanistan or Somalia. Why China? Answer: it has industrious people.
All these "we need fewer people on earth" adherents are inviting their own doom.
Free Trade working fine, government intrusion (stimulus) into the markets and distorting them not so good.
ReplyDelete"Time Bomb" link is bad...
ReplyDelete