Chinese screw cannot be taxed - Official ruling

[besotted]

Bloody Europeans - cannot manage their own economy and people, jealous of China's success.

Singaporeans, wake up, you are not a British colony anymore, stop being Pinkerton fuckheads



http://www.bbc.co.uk/news/business-11909049

WTO calls for end to EU duties on Chinese screws

The European Union (EU) has been told to stop levying import duties on Chinese screws, nuts and bolts.

The ruling by the World Trade Organization (WTO) marks the first time the trade body has ruled against the EU in favour of China.

The panel of WTO experts said the EU's import duties broke trade rules and said they must be revised.

According to the organisation's rules, both sides now have 60 days to appeal the ruling.

The EU imposes duties on imports from countries such as China, Vietnam or Cuba, which it considers not to be market economies.

WTO rules allow for extra duties where imports are sold at less than they would cost in the country of origin, a process known as "dumping".

The Chinese claim stated that the EU had wrongly calculated the threshold, a complaint the WTO upheld.

"The... rulings make it clear that the EU's anti-dumping legislation and practice are discriminatory and inconsistent with WTO rules," China said in a statement

 

[ivebert]

Bloody Europeans - cannot manage their own economy and people, jealous of China's success.

They are not jealous.

They just want to suck every cent of profit from China

This is smart.

 

[longbow]

I think just looking from economies of scale - it is hard to compete with the Chinese. No idea if Beijing subsidizes these items.

At the moment, China is probably the world's largest user of steel, cement, nuts and bolts, glass, plastic, etc etc

Therefore they have huge economies of scales and be able to offer superb pricing. Often these companies are willing to sell at lower margins to get market share in EU market.

 

[annexa]

Just compare EU labour costs and China labour costs and EU is fucked. Next China companies got no pension shit to dole out, EU companies got to pay pension until no tomorrow. Of course EU is fucked even without the economies of scale for China!