David Kirkpatrick

December 23, 2008

And now it begins …

Filed under: Business, Politics — Tags: , , , — David Kirkpatrick @ 3:05 pm

China is laying its legal case against the US in preparation for calling all its notes. Maybe not, but this does merit some attention.

Eight years of the Bush 43 regime has left the US in a very precarious position economically and militarily.

From the link:

China has asked the World Trade Organization to investigate whether the United States is illegally taxing Chinese goods such as steel pipes and off-road tires.

It’s the first time Beijing has ever sought a WTO panel in a trade dispute.

Washington delayed the panel’s establishment at a meeting of the WTO’s dispute body on Monday, but an investigation will likely be launched early next year.

The Geneva-based body can authorize trade sanctions if countries fail to comply with rules.

China says U.S. charges on some Chinese goods violate numerous trade agreements.

The U.S. says the goods are being exported at below-market value and that it is lawfully defending American manufacturers.

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