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trade war fear amid us-china tit-for-tat

by:Newland     2019-10-08
Hours after China complained to the World Trade Organization (wto) about the United States, people began to worry about a trade war just hours before the Obama administration complained about China.
The Chinese government says it has filed a lawsuit against the WTO in Geneva, challenging the U.
Dumping measures against various Chinese goods including kitchen appliances, magnets and paper.
The United States announced its decision to launch a complaint accusing Beijing of improperly subsidizing exports worth $ 1bn (£615m)
Vehicles and parts from 2009 to 2011.
Obama plans to announce the news during his visit to Ohio, which is becoming a battleground state and a key player in the US automotive supply chain.
A statement from China did not give details of the challenge, but said the U.
Dumping Measures affected 24 products worth $7. 2bn (£4. 43bn).
The case has intensified a series of disputes between Washington and Beijing over subsidies and market access.
Previous complaints include cheap Chinese tires weakening the status of American manufacturers and claiming that the United States has dumped a large number of chicken feet into the Chinese food industry.
The Chinese government\'s combined profits have brought tension.
There were 12 fewer state-owned enterprises.
The economic growth rate for the first eight months of 2012 was 8%, down from 13 in the same period last year.
2% in January-
The Ministry of Finance said that during July.
Chinese officials have called on the private sector to help the economy, the slowest pace of growth in more than three years in the second quarter.
It is widely expected that the central bank will further loosen its policies in the coming months by lowering interest rates and bank reserve requirements to support economic growth.
\"China should prevent local governments from blindly expanding investment in the name of stabilizing economic growth,\" said Gu Shengzhu, a member of the NPC Standing Committee.
\"Government investment should be kept modest to avoid increasing local debt and worsening the situation of over-investmentcapacity.
\"We should also prevent investment from flowing into the real estate industry. Private-
Sector Investment should play a major role in stabilizing the economy.
Meanwhile, US Defense Secretary Leon Panetta announced plans to extend his visit to China as territorial disputes escalated violent protests against Japanese companies.
Panetta said in Tokyo before his visit that the United States would stick to its security treaty obligations with Japan, but would not stand aside from a long row with China over the disputed islands.
\"It\'s in everyone\'s interest. . .
\"Japan and China should maintain good relations and find ways to avoid further upgrading,\" Panetta said . \"
As the protests spread, big Japanese companies announced a halt to production in China.
Honda said it would suspend production at two factories in the southern Chinese city of Guangzhou and the central city of Wuhan on September 18 and 19.
A spokeswoman said, \"We decided to suspend production for two days after tensions between China and Japan have intensified \".
Mazda said it would close the plant for four days, while sources said Nissan would also stop production.
Seven & I Holdings, Japan\'s largest integrated retailer, also confirmed 13 Ito Yokota supermarkets and nearly 200 of China\'s 7-
11 convenience stores
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