EU Denies China's Request for Market Economy Status In Antidumping Cases
The European Union (EU) has denied the Peoples Republic of China's (PRC) request to be officially recognized as a market economy for purposes of antidumping cases.
In denying the PRC's request the EU said that "an assessment of the Chinese economy showed too much state interference and poor corporate governance." The EU has advised that the PRC needs to make progress in several areas, including the financial sector, in corporate and banking law, in state interference and in property law, before being granted Market Economy Status.
The PRC has been lobbying governments around the world to recognize it as a market economy for antidumping purposes. Market Economy Status would alllow the actual prices of raw materials, labor and other production costs to be used in the antidumping calculations, rather than surrogate values from market economies such as India.
|posted by Douglas N. Jacobson| Permalink 
