US State Department Reportedly Recommends Putting China’s Ant Group on Trade Blacklist
As US-China relations remain tense, sources have indicated to Reuters that the State Department had proposed placing Ant Group on the trade blacklist to the Trump administration ahead of its listing on the US stock market.
A financial technology firm, Ant Group is planning to be listed on stock markets in Shanghai and Hong Kong with an estimated market value of a record-breaking 35 billion US dollars. It is unclear at the moment as to when the US government will add the firm to its Entity List, but it is believed that this is a sign from hardliners in Washington that American investors should refrain from taking part in the firm’s initial public offering.
While the local law makes it difficult for US firms to sell high-tech products to companies on the Entity List, how this latest move actually affects China is still a matter of debate. Reuters noted that while telecom companies like Huawei may suffer from being blacklisted, placing a fintech firm on the list could be more of a gesture.
Source: Stand News #Oct15
#US #China #AntGroup #EntityList #TradeWar #Finance
https://bit.ly/34cR2Yu
As US-China relations remain tense, sources have indicated to Reuters that the State Department had proposed placing Ant Group on the trade blacklist to the Trump administration ahead of its listing on the US stock market.
A financial technology firm, Ant Group is planning to be listed on stock markets in Shanghai and Hong Kong with an estimated market value of a record-breaking 35 billion US dollars. It is unclear at the moment as to when the US government will add the firm to its Entity List, but it is believed that this is a sign from hardliners in Washington that American investors should refrain from taking part in the firm’s initial public offering.
While the local law makes it difficult for US firms to sell high-tech products to companies on the Entity List, how this latest move actually affects China is still a matter of debate. Reuters noted that while telecom companies like Huawei may suffer from being blacklisted, placing a fintech firm on the list could be more of a gesture.
Source: Stand News #Oct15
#US #China #AntGroup #EntityList #TradeWar #Finance
https://bit.ly/34cR2Yu
立場新聞 Stand News
據報美國務院建議將螞蟻集團列入貿易黑名單 為公司上市再添變數 | 立場報道 | 立場新聞
中美關係持續緊張。有知情人士向路透社表示，美國國務院已向特朗普政府遞交計劃書，考慮在中國螞蟻集團（Ant Gr...
US election analysis - China wants Biden to soften stance on China; Scholar: whoever is the president should not go soft
The relationship between China and the United States is at its worst in decades. It is widely believed that the Beijing government would prefer to see Democratic presidential candidate Biden defeat Trump in the White House, where conflicts over trade, technology and security are expected to ease. But many scholars believe that even if Biden were to take the stage, it is unlikely that he would go easy on Beijing because American politics across the spectrum are now disappointed with Beijing. No matter who ends up as president, his stance will not soften by much.
There is a long list of issues currently in dispute between China and the United States, including the COVID-19 epidemic, technology, trade, security, and spies; as well as matters involving Hong Kong, Taiwan, and human rights issues in Tibet and Xinjiang. Trump's trade war, which imposes punitive tariffs on Chinese goods, and his blocking of leading Chinese technology and Internet companies such as Huawei, TikTok, and WeChat, as well as his allies' efforts to blockade China, have put Beijing on a collision course. A Pew Research Center survey in March found that two-thirds of the U.S. public has a negative view of China, the highest since the survey began in 2005.
Source: Apple Daily #Oct23
#US #China #USelections #Biden2020 #Trump2020 #Covid #TradeWar #TikTok
https://hk.appledaily.com/international/20201023/VWYZFJ646BA7NMY37PA22RU6NU/
The relationship between China and the United States is at its worst in decades. It is widely believed that the Beijing government would prefer to see Democratic presidential candidate Biden defeat Trump in the White House, where conflicts over trade, technology and security are expected to ease. But many scholars believe that even if Biden were to take the stage, it is unlikely that he would go easy on Beijing because American politics across the spectrum are now disappointed with Beijing. No matter who ends up as president, his stance will not soften by much.
There is a long list of issues currently in dispute between China and the United States, including the COVID-19 epidemic, technology, trade, security, and spies; as well as matters involving Hong Kong, Taiwan, and human rights issues in Tibet and Xinjiang. Trump's trade war, which imposes punitive tariffs on Chinese goods, and his blocking of leading Chinese technology and Internet companies such as Huawei, TikTok, and WeChat, as well as his allies' efforts to blockade China, have put Beijing on a collision course. A Pew Research Center survey in March found that two-thirds of the U.S. public has a negative view of China, the highest since the survey began in 2005.
Source: Apple Daily #Oct23
#US #China #USelections #Biden2020 #Trump2020 #Covid #TradeWar #TikTok
https://hk.appledaily.com/international/20201023/VWYZFJ646BA7NMY37PA22RU6NU/
Germany Former BND President Warned that China Almost Dominates the World, and Urged Europe to Reduce Reliance on China
The former President of the Bundesnachrichtendienst (BND) in Germany, Gerhard Schindler, spoke to the British press The Times that China was almost ‘dominating the world’, and that all European countries should be alert to this issue, lowering the ‘tactic reliance’ to China, especially for Germany.
Schindler, who served as the President of BND between 2011 and 2016, raised that China becomes more proactive in recent years, including aggressive actions in the South China Sea, the monopoly in the economy of African countries, and the Belt and Road Initiative infrastructure projects in Eurasia. He said, 'China is very clever and silent in conducting these dominating actions activities that we can hardly spot in Europe.'
China is the largest trade partner of Germany which the bilateral import and export trade volume reached EUR 206 billion (HKD 1.9 trillion) last year. Schindler pointed out that Germany must reflect on the situation of 'Business relationships dominate the stance on China'. He believed that there was a need to revise the Germany-China relationship. ‘We have some industries relying on China, such as our vehicle manufacturing industry, but we should not rely more heavily on others to reduce this reliance. We should try to reduce dependence.’ Schindler said.
Source: Apple Daily #Oct26
https://hk.appledaily.com/international/20201026/YCUISDO4CFDGHG3H3EXBLYVX3A/
#China #Germany #TradeWar #GerhardSchindler #BND #TheTimes #DominatingActions
The former President of the Bundesnachrichtendienst (BND) in Germany, Gerhard Schindler, spoke to the British press The Times that China was almost ‘dominating the world’, and that all European countries should be alert to this issue, lowering the ‘tactic reliance’ to China, especially for Germany.
Schindler, who served as the President of BND between 2011 and 2016, raised that China becomes more proactive in recent years, including aggressive actions in the South China Sea, the monopoly in the economy of African countries, and the Belt and Road Initiative infrastructure projects in Eurasia. He said, 'China is very clever and silent in conducting these dominating actions activities that we can hardly spot in Europe.'
China is the largest trade partner of Germany which the bilateral import and export trade volume reached EUR 206 billion (HKD 1.9 trillion) last year. Schindler pointed out that Germany must reflect on the situation of 'Business relationships dominate the stance on China'. He believed that there was a need to revise the Germany-China relationship. ‘We have some industries relying on China, such as our vehicle manufacturing industry, but we should not rely more heavily on others to reduce this reliance. We should try to reduce dependence.’ Schindler said.
Source: Apple Daily #Oct26
https://hk.appledaily.com/international/20201026/YCUISDO4CFDGHG3H3EXBLYVX3A/
#China #Germany #TradeWar #GerhardSchindler #BND #TheTimes #DominatingActions
WTO complaint “next step” in tariff dispute between Australia and China, trade ministery says.
The trade minister Simon Brimingham said on 29 November the trade conflicts were not just harming Australia but threated global trade confidence. Canberra will take its complaints to the World Trade Organization (WTO).
Due wine tariffs imposed after barley tariffs announced in May, at least 60 ships laden with coal from Australian producers have also been denied permission to enter Chinese ports, leaving them waiting off the coast while Australian authorise attempt to find a resolution to the standoff.
The wine decision would not be part of any immediate complaint to the WTO as it was still being described as an “interim application of tariffs”.
Source: The Guardian #Nov29
https://www.theguardian.com/business/2020/nov/29/wto-complaint-next-step-in-tariff-dispute-between-australia-and-china-trade-minister-says?CMP=Share_iOSApp_Other
#Australia #China #WTO #AntiDumping #Tarrif #TradeWar
The trade minister Simon Brimingham said on 29 November the trade conflicts were not just harming Australia but threated global trade confidence. Canberra will take its complaints to the World Trade Organization (WTO).
Due wine tariffs imposed after barley tariffs announced in May, at least 60 ships laden with coal from Australian producers have also been denied permission to enter Chinese ports, leaving them waiting off the coast while Australian authorise attempt to find a resolution to the standoff.
The wine decision would not be part of any immediate complaint to the WTO as it was still being described as an “interim application of tariffs”.
Source: The Guardian #Nov29
https://www.theguardian.com/business/2020/nov/29/wto-complaint-next-step-in-tariff-dispute-between-australia-and-china-trade-minister-says?CMP=Share_iOSApp_Other
#Australia #China #WTO #AntiDumping #Tarrif #TradeWar
'If you make China the enemy, China will be the enemy': Beijing's fresh threat to Australia
Chinese and Australian relations have taken a skydive after China’s Foreign Ministry spokesman Zhao Lijian leaked a document which contains a list of 14 grievances, including government funding for “anti-China” research at the Australian Strategic Policy Institute, cancellations of Chinese journalist and academic visas, organizing a “crusade” against China’s policies for Taiwan, Hong Kong, and Xinjiang, investigating the origins of COVID-19, banning Huawei in 2018, blocking 10 Chinese investment deals, and “unfriendly” reports on China in Australian independent media.
The Department of Foreign Affairs sees the 14 items as entirely non-negotiable, but that “The Australian government is always ready to talk directly in a constructive fashion about Australia's relationship with China, including about our differences, and to do so directly between our political leaders.”
But a Chinese official asked, "Why should China care about Australia?”. Phone calls would be “meaningless” when the “atmosphere is bad”, further adding that "China is angry. If you make China the enemy, China will be the enemy.”
Source: The Sydney Morning Herald #Nov18
https://amp.smh.com.au/world/asia/if-you-make-china-the-enemy-china-will-be-the-enemy-beijing-s-fresh-threat-to-australia-20201118-p56fqs.html?fbclid=IwAR17BJIjLBGIu8b006hS_Cw8v4s8Z0gQwjIaybGa7fQfAXnfVQZrUWyOcc4
#Australia #AustraliaChina #China #tradewar
Chinese and Australian relations have taken a skydive after China’s Foreign Ministry spokesman Zhao Lijian leaked a document which contains a list of 14 grievances, including government funding for “anti-China” research at the Australian Strategic Policy Institute, cancellations of Chinese journalist and academic visas, organizing a “crusade” against China’s policies for Taiwan, Hong Kong, and Xinjiang, investigating the origins of COVID-19, banning Huawei in 2018, blocking 10 Chinese investment deals, and “unfriendly” reports on China in Australian independent media.
The Department of Foreign Affairs sees the 14 items as entirely non-negotiable, but that “The Australian government is always ready to talk directly in a constructive fashion about Australia's relationship with China, including about our differences, and to do so directly between our political leaders.”
But a Chinese official asked, "Why should China care about Australia?”. Phone calls would be “meaningless” when the “atmosphere is bad”, further adding that "China is angry. If you make China the enemy, China will be the enemy.”
Source: The Sydney Morning Herald #Nov18
https://amp.smh.com.au/world/asia/if-you-make-china-the-enemy-china-will-be-the-enemy-beijing-s-fresh-threat-to-australia-20201118-p56fqs.html?fbclid=IwAR17BJIjLBGIu8b006hS_Cw8v4s8Z0gQwjIaybGa7fQfAXnfVQZrUWyOcc4
#Australia #AustraliaChina #China #tradewar
The Sydney Morning Herald
'If you make China the enemy, China will be the enemy': Beijing's fresh threat to Australia
A deliberately leaked Chinese government document has laid out 14 disputes aimed at pressuring the Morrison government to reverse Australia’s position on key policies.
China Suspends Beef Import from the Sixth Australian Supplier as Trade Disputes Escalates
As the Australia-China Trade War gets worsened, China announced more Australian beef import suspension, without providing any reason for the import ban.
China has successively banned five Australian beef suppliers this year. One of which was accused of using Chloramphenicol, a prohibited antibiotic banned in Australia and China, the other four were accused of violating quarantine requirements.
China Customs stopped application and registration for beef exports from Meramist, the sixth Australian beef supplier, from 7 December without any explanation. Meramist General Manager Mike Eathorne said in an interview with the Australian Broadcasting Corporation (ABC) yesterday, "I was advised five minutes ago and I have been given absolutely no reasons."
#China #Australia #AustralianBeefSuppliers #TradeWar #Meramist #MikeEathorne
Source: Stand News #Dec08
https://bit.ly/2KKwyPB
As the Australia-China Trade War gets worsened, China announced more Australian beef import suspension, without providing any reason for the import ban.
China has successively banned five Australian beef suppliers this year. One of which was accused of using Chloramphenicol, a prohibited antibiotic banned in Australia and China, the other four were accused of violating quarantine requirements.
China Customs stopped application and registration for beef exports from Meramist, the sixth Australian beef supplier, from 7 December without any explanation. Meramist General Manager Mike Eathorne said in an interview with the Australian Broadcasting Corporation (ABC) yesterday, "I was advised five minutes ago and I have been given absolutely no reasons."
#China #Australia #AustralianBeefSuppliers #TradeWar #Meramist #MikeEathorne
Source: Stand News #Dec08
https://bit.ly/2KKwyPB
Australian Minister Urges People to buy local,
McDonald’s and Domino’s Use of Local Ingredients against China’s Trade War
As the Australia-China trade dispute is getting worse, an Australian minister said that the public could help local farmers by buying local ingredients and praised fast-food chains, such as McDonald’s and Domino’s Pizza, for displaying country of origin information on their websites and food packages. It allows consumers to understand how many ingredients are from Australia so that the public could support local products.
Australian Agriculture Minister David Littleproud said to the audience in a radio interview, “You have the power. We’ve given it to you.” He praised that displaying country of origin information could help customers purchase food made from local ingredients. “McDonald’s and Domino’s have joined the campaign. Once you enter the shop, they will disclose how much of their food are actually from Australia.”
Australia and China have started a trade war, in which China has imposed restrictions on Australian exports like beef, sugar, wine and barley. The trade war has hit Australian agricultural industries.
#Australia #China #TradeWar #DavidLittleproud #McDonld #Dominos #Localfood
Source: Apple Daily #Dec14
https://hk.appledaily.com/international/20201214/BRBQINJTHVDCRC65L6XTRHTC7I/
McDonald’s and Domino’s Use of Local Ingredients against China’s Trade War
As the Australia-China trade dispute is getting worse, an Australian minister said that the public could help local farmers by buying local ingredients and praised fast-food chains, such as McDonald’s and Domino’s Pizza, for displaying country of origin information on their websites and food packages. It allows consumers to understand how many ingredients are from Australia so that the public could support local products.
Australian Agriculture Minister David Littleproud said to the audience in a radio interview, “You have the power. We’ve given it to you.” He praised that displaying country of origin information could help customers purchase food made from local ingredients. “McDonald’s and Domino’s have joined the campaign. Once you enter the shop, they will disclose how much of their food are actually from Australia.”
Australia and China have started a trade war, in which China has imposed restrictions on Australian exports like beef, sugar, wine and barley. The trade war has hit Australian agricultural industries.
#Australia #China #TradeWar #DavidLittleproud #McDonld #Dominos #Localfood
Source: Apple Daily #Dec14
https://hk.appledaily.com/international/20201214/BRBQINJTHVDCRC65L6XTRHTC7I/
Losing China Market, Australia Lobsters Sale to Local, and About to Explore European, American and Japanese Markets.
China has imposed trade restrictions on several Australian goods in recent months and even stopped importing some Australian products. Australia lobsters, which mainly exported to China, have been hit hard, but fishermen managed tried to save themselves by selling the lobsters to local customers at relatively low prices. In the long run, they plan to explore other markets such as Japan, the United States and Europe to reduce dependence on Chinese consumers.
Local Consumers Rush to Buy, Supermarkets Limited Purchasing
94% of Australia lobsters used to sell to China, so after China stopped the importation of Australia lobsters, the industry has been hit hard. The local government of Western Australia has introduced special measures, allowing fishermen to sell lobsters directly from fishing boats in December and January. One of them is Fedele Camarda, whose family has been fishing lobsters for three generations, has joined the lobster sales.
Australian consumers actively supporting fishermen that have been affected by the trade war. Many people take the opportunity of preparing Christmas dinners to buy local lobsters for the festive season. The lobster sales were so good that local supermarket has to limited the purchasing quantity. Camarda’s fishing boats have no shortage of customers. Nick Van Niekerk, queued up for 30 minutes before he could buy lobsters, “I came down to support the local fishermen and show that we as a community care,” he said. He also pointed out that Australian lobsters used to be quite expensive, but now the price has been reduced, which is good for the community. “It's important to be able to get lobsters directly from the boats and know what you're actually getting,”, he said.
Source: Apple Daily #Dec27
https://hk.appledaily.com/international/20201227/HFRJ45OVFNHRXEFTV2LS4ONN74/
#Australia #China #Lobsters #TradeWar
China has imposed trade restrictions on several Australian goods in recent months and even stopped importing some Australian products. Australia lobsters, which mainly exported to China, have been hit hard, but fishermen managed tried to save themselves by selling the lobsters to local customers at relatively low prices. In the long run, they plan to explore other markets such as Japan, the United States and Europe to reduce dependence on Chinese consumers.
Local Consumers Rush to Buy, Supermarkets Limited Purchasing
94% of Australia lobsters used to sell to China, so after China stopped the importation of Australia lobsters, the industry has been hit hard. The local government of Western Australia has introduced special measures, allowing fishermen to sell lobsters directly from fishing boats in December and January. One of them is Fedele Camarda, whose family has been fishing lobsters for three generations, has joined the lobster sales.
Australian consumers actively supporting fishermen that have been affected by the trade war. Many people take the opportunity of preparing Christmas dinners to buy local lobsters for the festive season. The lobster sales were so good that local supermarket has to limited the purchasing quantity. Camarda’s fishing boats have no shortage of customers. Nick Van Niekerk, queued up for 30 minutes before he could buy lobsters, “I came down to support the local fishermen and show that we as a community care,” he said. He also pointed out that Australian lobsters used to be quite expensive, but now the price has been reduced, which is good for the community. “It's important to be able to get lobsters directly from the boats and know what you're actually getting,”, he said.
Source: Apple Daily #Dec27
https://hk.appledaily.com/international/20201227/HFRJ45OVFNHRXEFTV2LS4ONN74/
#Australia #China #Lobsters #TradeWar
The Five Eyes plans to sanction China to counter Beijing's trade war against Australia
China has been making moves to put pressure on Australian trade. The Australian media reported that the Five Eyes Alliance, which consists of Australia, New Zealand, the United States, Canada and the United Kingdom, has recently discussed how to deal with the situation and has not ruled out imposing trade sanctions against China. Australia has just formally filed a complaint with the World Trade Organization today against the China-initiated trade war.
According to reports, the Five Eyes Alliance is negotiating to respond to China’s trade sanctions against Australia. The U.S. is actively considering the possibility that each of the five countries may impose trade restrictions on Chinese goods or services, or that only Australia may impose punitive tariffs on China. The other four countries are open to express their support.
Fergus Hanson, the Director of International Cyber Policy Centre of Australian Strategic Policy Institute, said that the Five Eyes could also refer to Article 5 of NATO. It establishes a collective defence mechanism for member states which can respond to China's trade sanctions against Australia. “Only in this way can let the CCP realize that it (the trade sanctions) is a two-way street. Our current approach is not a solution to this problem."
Source: Apple Daily #Dec16
https://hk.appledaily.com/international/20201216/JR6ZDIMKLJCKJF7LS7G4CT4AEY/
#FiveEyesAlliance #AustralianChinaRelations #Australia #US #UK #Canada #NewZealand #tradewar #WTO #FergusHanson #ASPI
China has been making moves to put pressure on Australian trade. The Australian media reported that the Five Eyes Alliance, which consists of Australia, New Zealand, the United States, Canada and the United Kingdom, has recently discussed how to deal with the situation and has not ruled out imposing trade sanctions against China. Australia has just formally filed a complaint with the World Trade Organization today against the China-initiated trade war.
According to reports, the Five Eyes Alliance is negotiating to respond to China’s trade sanctions against Australia. The U.S. is actively considering the possibility that each of the five countries may impose trade restrictions on Chinese goods or services, or that only Australia may impose punitive tariffs on China. The other four countries are open to express their support.
Fergus Hanson, the Director of International Cyber Policy Centre of Australian Strategic Policy Institute, said that the Five Eyes could also refer to Article 5 of NATO. It establishes a collective defence mechanism for member states which can respond to China's trade sanctions against Australia. “Only in this way can let the CCP realize that it (the trade sanctions) is a two-way street. Our current approach is not a solution to this problem."
Source: Apple Daily #Dec16
https://hk.appledaily.com/international/20201216/JR6ZDIMKLJCKJF7LS7G4CT4AEY/
#FiveEyesAlliance #AustralianChinaRelations #Australia #US #UK #Canada #NewZealand #tradewar #WTO #FergusHanson #ASPI
Australia Universities are “Addicted” to the Income of Chinese Students, Feared to Fall Out of the World's Top 100 Rankings Due to China's Ban
Many Chinese students study aboard in Australia every year, bringing massive benefits to Australian universities. Some universities principals describe that the industry has already “addicted” to the Chinese market. As China-Australia relations deteriorated, China publicly called for not to study in Australia. Some analysis believes that this action massively reduces the universities research expenditures due to the drastic reduction in income. And eventually, it leads to domestic universities falling out of the top 100 in the world.
“Addicted” in relying on the Chinese market
From the start of last year, China-Australia relations become more worsen, Australian President Scott Morrison publicly called out for having an independent investigation into the origin of COVID-19. However, the Beijing government regards this action as a move against China. Afterwards, China launches a trade war against Australia, imposing import bans or tariffs to Australian products such as beef, red wine, coal and lobsters. Chinese Education Department called out to students not to study in Australia, and Australia banned international students from entry due to the pandemic.
Chinese international students contributed around AUD 7 billion (HKD 41.8 billion) to Australian universities each year. Greg Craven, Principal of Australian Catholic University, said the industry is over-relied on the Chinese market, it even brought sovereign risks to Australia. He said helplessly, “They (principals from other universities) all knew about the issues of China, and I have also mentioned in the expert group or publicly, but they chose to remain silent, which is like being addicted to drugs.”
Source from: Apple Daily #Jan05
https://hk.appledaily.com/international/20210105/S7F6EFJHDZDD3EJ4GUKZPEEPEE/
#China #Australia #TradeWar #Universities #internationalstudents #ranking #ScottMorrison #GregCraven #Education
Many Chinese students study aboard in Australia every year, bringing massive benefits to Australian universities. Some universities principals describe that the industry has already “addicted” to the Chinese market. As China-Australia relations deteriorated, China publicly called for not to study in Australia. Some analysis believes that this action massively reduces the universities research expenditures due to the drastic reduction in income. And eventually, it leads to domestic universities falling out of the top 100 in the world.
“Addicted” in relying on the Chinese market
From the start of last year, China-Australia relations become more worsen, Australian President Scott Morrison publicly called out for having an independent investigation into the origin of COVID-19. However, the Beijing government regards this action as a move against China. Afterwards, China launches a trade war against Australia, imposing import bans or tariffs to Australian products such as beef, red wine, coal and lobsters. Chinese Education Department called out to students not to study in Australia, and Australia banned international students from entry due to the pandemic.
Chinese international students contributed around AUD 7 billion (HKD 41.8 billion) to Australian universities each year. Greg Craven, Principal of Australian Catholic University, said the industry is over-relied on the Chinese market, it even brought sovereign risks to Australia. He said helplessly, “They (principals from other universities) all knew about the issues of China, and I have also mentioned in the expert group or publicly, but they chose to remain silent, which is like being addicted to drugs.”
Source from: Apple Daily #Jan05
https://hk.appledaily.com/international/20210105/S7F6EFJHDZDD3EJ4GUKZPEEPEE/
#China #Australia #TradeWar #Universities #internationalstudents #ranking #ScottMorrison #GregCraven #Education
#PreferentialTradeTreatment
32 countries cancelled China’s preferential trade treatment
China will no longer be eligible for Gereralised System of Preferences (#GSP) trade benefits from 27 EU nations, the United Kingdom, Canada, Turkey, Ukraine, and Liechtenstein as of December 1, leaving the country with only three options: Norway, New Zealand, and Australia.
On October 28, the General Administration of Customs of the Communist Party of China (#GACC) issued the “Announcement on No longer issuing GSP certificates of origin for goods exported to EU member states, the United Kingdom, Canada, Turkey, Ukraine, Liechtenstein and other countries.”
Although the GACC louds the action as "an acknowledgement by other advanced economies, economists have predicted that labor-intensive enterprises will face the brunt of the change.
#China #EU #TradeWar
Sources: Taiwan News, Epoch Times; #Nov2
https://www.taiwannews.com.tw/en/news/4333651
32 countries cancelled China’s preferential trade treatment
China will no longer be eligible for Gereralised System of Preferences (#GSP) trade benefits from 27 EU nations, the United Kingdom, Canada, Turkey, Ukraine, and Liechtenstein as of December 1, leaving the country with only three options: Norway, New Zealand, and Australia.
On October 28, the General Administration of Customs of the Communist Party of China (#GACC) issued the “Announcement on No longer issuing GSP certificates of origin for goods exported to EU member states, the United Kingdom, Canada, Turkey, Ukraine, Liechtenstein and other countries.”
Although the GACC louds the action as "an acknowledgement by other advanced economies, economists have predicted that labor-intensive enterprises will face the brunt of the change.
#China #EU #TradeWar
Sources: Taiwan News, Epoch Times; #Nov2
https://www.taiwannews.com.tw/en/news/4333651