Abstracts » Business, international

The seven-year itch

Article Abstract:

Asian countries argue that the World Trade Organization is asking them to open their markets too rapidly to imports. This is true of India which has argued to retain controls on the grounds that it has balance of payments problems. India is seeking a seven-year transition period, arguing that its status as a developing economy means that protection should be granted. The WTO rules tend to be set by developed economies. The European Union and United States are unlikely to want India to retain restrictions since China is seeking to join and is more likely to press for concessions if they are achieved by India.

Indian foreign relations, India

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Waiting for Godot? China expects long wait to join WTO

Article Abstract:

China's accession to the World Trade Organization seems unlikely before the end of 1996, as it refuses to compromise on Western demands for deadlines and improvements in tariffs and other areas. Foreign Trade Minister Wu Yi noted especially US insistence on quick economic and trade liberalization, and on treating China as an industrialized nation with regard to WTO admission. Even European officials with a more moderate stance say China must compromise by lowering its tariffs, dropping import quotas, and making other changes.

China, Chinese foreign relations

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Tough talk; the WTO gears up for a contentious conclave

Article Abstract:

The World Trade Org's planned ministerial conclave in Singapore in Dec 1996 already looks contentious, with Asian leaders trying to narrow the scope of issues the US and the European Union want on the table. US trade officials hope the WTO will reconsider directly linking trade and workers' rights, a topic few Asian countries and not all those in Europe support. The EU wants to discuss cross-broder investments and national competition policies. Slow progress dismantling the Multifibre Agreement is also an issue.

Interpretation and construction, International aspects, European Union, Labor law, Commercial treaties, Trade agreements

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