China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (2021)	12/16/2003 1:42:30 AM
From: RealMuLan	Read Replies (1) of 6370

US Not To Apply 25% Growth Factor To China AMITI SEN NEW DELHI, DEC 15: The US has said that it will not apply the 25 per cent growth factor applicable to stage two of the agreement on textile and clothing (ATC) to China in full as the country had joined the World Trade Organisation (WTO) only 21 days before the end of the particular stage. In a complaint filed before the textile monitoring body (TMB) of the WTO, China pointed out that the US was obliged to increase the growth rates of quotas in force on the date of China’s accession to the WTO by the respective growth factors provided for in the ATC including the 25 per cent growth factor. The TMB, after a review conducted in January 2003, recommended that the US should apply the 25 per cent growth factor in full to China and make the necessary adjustments of its methodology accordingly. In a recent meeting of the council for trade in goods on China’s transitional review, China pointed out that so far the US had not made such adjustments in compliance with TMB’s recommendation. Such a failure on US’ part had adversely affected the market access available to China and upset the balance of rights and obligations between the two countries under the ATC, China alleged. It added that the textile and clothing sector continued to play a significant role in China’s economic and social development in terms of both job creation and poverty alleviation and hoped that the US would immediately take actions to rectify the problem. While acknowledging that the ATC required an increase in China’s quota growth rates because it had joined the WTO during the second stage of the ATC implementation period, the US said that it disagreed with China on the methodology to be used in determining the quota growth increase. The US position was that because China had joined the WTO only 21 days before the end of stage II, the fundamental principle that a member did not begin acquiring the benefits of the WTO agreements until it was actually a member of the WTO allowed the US to pro-rate the increase in the quota growth rate for that period of stage II of the ATC when the US was calculating what the increases should be. The growth in quotas for China in the US market would be, thus, much lower than 25 per cent. financialexpress.com

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