Morrison sharpens attack on China's special 'developing nation' trading status

Morrison sharpens attack on China's special 'developing nation' trading status

In a major speech to business leaders in Chicago, the Prime Minister threw more weight behind US President Donald Trump in the push for change, one day after the two men shared a podium in Ohio at a factory opening crowded with Trump supporters.

disallowed/politics/federal/morrison-sharpens-attack-on-china-s-special-developing-nation-trading-status-20190923-p52u2e.html

What a fool IMO.

" It has become a truism in the U.S. media that the WTO does not offer any opportunities for resolving our very real concerns about how China is treating American products and American businesses. Nowadays if you say something often enough that’s not true, it seems that people begin to believe it. This is just one example of how we’re being told things that simply are not true.

Certainly, the WTO is in need of improvement and modernization. Certainly, there are places where we need to improve WTO rules, but there are many WTO rules that right now offer opportunities for us in engagement with China and dispute settlement. We should proceed with even more dispute settlement against China in the WTO, even as the Chinese should do what they are doing, which is to respond to our illegal actions with WTO complaints of their own.

The purpose of the WTO is to provide an arena for the peaceful settlements of trade disputes. The WTO has resolved, in the course of the past 20 years and more, a total of more than 500 international trade disputes, positively, successfully, lastingly. Moreover, the mere presence of a rule-based global trading system provides an atmosphere in which most countries comply with most all their trade obligations, in most all of their commerce every day. Disputes are resolved because the disputing parties know that there is a binding dispute settlement system backed by the last resort of economic sanctions. These disputes never get to the WTO. "

https://www.heritage.org/trade/report/the-wto-and-the-china-challenge

What a bloody fool IMO.

Raider