WTO’s Recent Ruling Against China over Export Controls of Certain Raw Materials: A Critical Juncture for the WTO and a Chance for Chinese Leadership?
Last week, the WTO handed China a setback in its ruling over its appeal over export controls (herein the Ruling) covering “[c]rtain forms of bauxite, coke, fluorspar, magnesium, manganese, silicon carbide, silicon metal, yellow phosphorous, and zinc.”
The Global Times has a strong response:
Time to reassess unfair WTO entry terms
Global Times | February 01, 2012 00:48
A WTO appeals panel has upheld a ruling against China restricting exports of nine types of raw materials. The ruling, completely unreasonable to Chinese, will threaten China’s resource preservation and environmental protection efforts.
China has generally been following WTO regulations and rulings. But it should find the best balance between applying WTO rules and protecting its national interests. Getting approval from the West is not our top concern.
Admittedly, joining the WTO has boosted China’s rise. However, entry was granted at the cost of China accepting some unfair terms, from which the aftereffects have gradually emerged, including this ruling. They may become a hidden problem for China’s economy. Read more…