Rethinking Gatt

Article Abstract:

China's government has lost its eagerness to join Gatt, the international trade organization based in Geneva, Switzerland. China had hoped that Gatt's principle of non-discriminatory treatment for contracting governments would protect it from US threats to revoke China's most favored nation (MFN) status. However, Article 35 of the Gatt code would allow the US to go on using MFN as a means of pressuring China on such issues as human rights. Moreover, the discovery that Gatt membership would impose many financial burdens has furthered discouraged China's leadership.

Political aspects

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Warning shot

Article Abstract:

The Office of the US Trade Representative (USTR) has circulated a list of Chinese goods facing tariffs of as much as 100% in case negotiations fail to resolve disputes regarding the liberalization of trade between the two countries. The Chinese have threatened to retaliate, although observers believed that they would eventually back down to avoid the sanctions. The resolution of the dispute over China's policy of intellectual property rights protection followed the same pattern and leads many to hope that the two sides would come into an agreement.

Economic sanctions, Sanctions (International law)

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Balancing act: Peking's export drive may strain Sino-US relations

Article Abstract:

China is attempting to restore a favorable balance of trade by pushing its exports; trade barriers may be next. Its first trade deficit in four years led Peking to assign import-export companies quotas on overseas sales, but most of the economy is now private so the move will have limited impact. Import restrictions are easier to implement, but are likelier to provoke a strong reaction from the US, which already runs a trade deficit with Peking.

Exports, Chinese foreign relations, United States foreign relations

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