US Threatens to Take China to the WTO Principal
US Trade Representative Susan Schwab, says that calls for Chinese officials to more closely scrutinize foreign investment could set back the countries growth.
Perhaps that is what the Chinese government has in mind for slowing down the economy.
China pledged to the WTO that it would open up banking and insurance to foreign firms by the end of this year. 3.5 months to go….
Schwab brought up the financial services issue with Chinese Commerce minister Bo Xilai.
China still has a long way to go with regard to intellectual property rights.
There are also barriers to its domestic markets for express mail, beef and telecommunications.
Let’s suppose China does NOT open its financial services by the end of year.
Let’s supposed Schwab does ‘tell on’ China to the WTO.
Is it likely that suddenly everyone will stop doing business with the dragon?
What do you think?
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