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

UK, EU agree to take more time for Brexit deal

Textiles | On 19th Oct 2018

UK, EU agree to take more time for Brexit deal

After an ongoing Brexit summit produced no tangible results, European ...

Courtesy: Pexels

Textiles | On 19th Oct 2018

US announces intent for trade deals with Japan, EU, UK

US Trade Representative Robert Lighthizer recently notified the...

Courtesy: Turtle Limited

Fashion | On 19th Oct 2018

'We are trying to imbibe multi-utility factor in menswear'

Turtle Limited, a leading Indian brand in menswear fashion, is trying ...

Interviews View All

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Prabu Mohanram, Balavigna Weaving Mills Pvt Ltd

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Binoy Ravjani, Hero's Fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Sugandha Bhardwaj,

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

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

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

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

Leave your Comments


October 2018

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

news category


Related Categories:

Advanced Search