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Written by Stumo
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Friday, 25 January 2008 |
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Susan Schwab is in her last year on the job. Now she says the U.S. China trade deficit is unsustainable.
"We have a very large and, I would argue, unsustainable trade
imbalance with China," Schwab said in Davos, where she was attending
the World Economic Forum. "To the extent that the imbalance could be
attributed to trade policy _ meaning illegal barriers, unfair
subsidies, violations of intellectual property rights, counterfeiting,
piracy _ then that's a real problem."...
Schwab added that "there are still areas where we believe that China is not yet in full compliance with its WTO obligations."
She declined to name these, but the United States has repeatedly
accused China in sessions at the WTO of manipulating prices on the raw
materials used to produce steel, chemicals, airplanes and automobiles
to ensure an advantage for Chinese manufacturers over their American
competitors. ...
"When we reach trade agreements, we will enforce those trade
agreements," Schwab said. "We have tried to be respectful. At the same
time we have made sure we are active advocates of U.S. commercial
interests."
Maybe she is seeing the light? But so far just words. Words don't count.
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