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

Union MSME minister Kalraj Mishra

Textiles | On 1st Oct 2016

MSME policy announcement likely in October

The MSME policy is likely to be launched in October, according to...

Textiles | On 1st Oct 2016

GST Council approves rules on payments & returns

The second meeting of the GST Council, headed by Union finance...

Bangladesh’s WTO ambassador Shameem Ahsan (right) submitting his country’s TFA instrument of acceptance to WTO director-general Roberto Azevêdo. Courtesy: WTO

Textiles | On 1st Oct 2016

Bangladesh ratifies WTO’s Trade Facilitation Agreement

Bangladesh has ratified the Trade Facilitation Agreement (TFA),...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Pratik Bachkaniwala
Palod Himson Machines

Sonia Agarwal
Whitenife

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Larry L Kinn
Suominen Corporation

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
September 2016

September 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search