Home / Knowledge / News / Textiles / China does not qualify as market economy: NCTO
China does not qualify as market economy: NCTO
21
Jul '16
Insisting that Beijing's trade practices, especially in the textile supply chain, invariably leads to dumping of goods in other countries, textile manufacturers in the US have urged the Obama administration not to grant China market economy status.

“China's chronic misallocation of investment to expand its state-owned enterprises in the textile supply chain and in other industrial sectors where there is an excess of global capacity invariably leads to Chinese dumping and other non-free-market economic practices,” Augustine Tantillo, President and CEO of The National Council of Textile Organizations (NCTO) Tantillo has said.

Those actions hurt the global economy and must not be rewarded by the United States, Tantillo said citing reports that even the WTO had commented that China's market reforms since joining the WTO have fallen short of expectations.

“Treating China as a market economy would defy logic,” he said after a presentation by Manufacturers for Trade Enforcement (MTE) coalition at the Capitol Hill on July 11 and 12. NCTO is part of the coalition.

China is seeking a formal designation as a market economy from December 11, 2016, the 15th anniversary of the country's accession to WTO. At present, the U.S. Commerce Department treats China as a non-market economy when calculating anti-dumping margins and other trade remedies. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search