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11.18.2003
If If If BBC NEWS | Business | US to limit China textile imports: "The Commerce Department said it planned to set quotas limiting growth in Chinese textile imports to 7.5% a year. The move follows a sharp increase in shipments of Chinese clothing products over the past 14 months.US Commerce Undersecretary Grant Aldonas said the surge in imports had been helped by government subsidies. 'It's not just a question of a dramatic surge, but a heavily state-owned industry that's subsidised by state-owned banks,' he said. " We should see this for what it is, an attempt to quell growing discontent by textile states that have watched their industry bleed to death from competition from China. Its a campaign move that will address what I see as the main weakness in the Bush armor, namely, growing frustration by small businesses that lack the influence of corporations to get special considerations from Washington. David Neiwert of Orcinus thinks we should be wary of attempts to paint China as the economic hobgoblin. I agree but I have to wonder what we expected. We knew that China was non-democratic and that they exert lots of control over their industry. Should we really be suprised if they work to create an artificial advantage for their businesses? No, because we do it as well. President Bush is working to promote the interests of American Business and so is China for their own. The ideas of global free trade seem to assume that governments would be content to sit on the sidelines and observe. Not true. We're only finding this out after shoving some third world governments off the playing field. | |
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