Saturday, December 18, 2010

Sino-US trade focus topic of the legal profession hot

A one-week 2010 annual Sino-American trade legal exchange of the two stations in Hangzhou, Wuhan, Chengdu, 22 in. The theme of this Exchange is the export promotion and trade remedy laws, by the Chinese Ministry of Commerce, Office of the State and the United States Department of Commerce. From both sides of government officials, legal experts and academics as well as enterprises participated in the seminar. On this legal communication activities in the United States, Department of Commerce's international trade negotiations, the Deputy Representative of the Chong-spring, Deputy Director, Office of the State and the United States Department of Commerce Engel General Counsel Kerry are highly, that legal exchanges deepened on mutual trade legal system, legal proceedings and law knowledge, contribute to the promotion of Sino-US trade relations harmonious and healthy development.

2010 annual Sino-American trade legal exchanges had in-depth discussions on United States national export initiative, the United States anti-dumping law finds non-market economy status of legal standards, applicable United States laws as well as countervailing United States trade remedy law program, and other legal issues. United States require appreciation of the Renminbi, the implementation of export controls to China, China's new energy policy measures expand 301 investigation, accusing China rare earth export policy ... A series of recent cause friction and American economic and trade issues are present in the Chinese scholars came up, United States Department of Commerce requirements from government officials to explain.

Sino-US trade law exchange activities under the 1984 Sino-US Joint Commission on Commerce and trade agreements and the 1994 u.s. commercial legal cooperation declaration requirements, take turns in the two countries held a ministerial bilateral legal exchange activities. A delegate of the Chinese people feeling that United States law AC has held the 15th, but this time the discussion atmosphere is the most lively and even can be used to describe the "hot".

To attend the closing ceremonies of the Chinese Ministry of commerce international trade negotiations, said the Deputy Representative of the Sung, the law is not castles in the air, is to address the practical problems which exist. He trade imbalances, the Renminbi exchange rate and trade friction, the current Sino-US trade relations focus issues reiterated the views and positions.

RMB no dollar basis

Cfets 22, the Renminbi against the US dollar exchange rate in the middle price reported 6.6759. Although the previous trading day low 64 bps, and June 19, China's Central Bank reiterated the "reform" of exchange rate appreciation of the Renminbi has compared to more than 2%. If the control of July 2005, the "reform" is more than RMB 20 per cent.

It is in this context, the US continues to accuse the RMB exchange rate is underestimated. United States House of representatives has passed a bill on RMB. Participation in the United States legal seminar of the United States Department of Commerce importing authority Chief Economist Xu Deming's view, if you remain unchanged for the Renminbi exchange rate will not be resolved between trade imbalances.

However, the Chinese scholars obviously cannot agree with this view. Sichuan University, school of Economics, Professor Jiang Guo-with all due respect, appreciation of the renminbi is unable to resolve the Sino-US trade in goods and imbalance in the international division of labor and industry shift caused by changes in exchange rates could not be adopted. "In fact, in 2005 ~ 2008 continued appreciation of the Renminbi, Sino-US trade balance is on the rise. But after the outbreak of the financial crisis, the Renminbi exchange rate is relatively stable, the Sino-US trade surplus has decreased substantially. ”

Chong Quan stressed that China has never to underestimate the RMB exchange rate way to gain competitive advantage, the exchange rate and trade surplus is not necessarily linked. He said that this year on 19 June, China to further advance the reform of the Renminbi exchange rate regime, adhere to market supply and demand, adjusting the reference currency basket, enhances the flexibility of the RMB exchange rate. "This is still facing great difficulties, make active efforts of China, the Yuan and not have dollar basis. "Chong Quan said.

Chong Quan pointed out that the exchange rate reforms in line with China's long and fundamental interests that will continue to promote it. At the same time, China will actively and effectively structural reforms, efforts to boost domestic demand, particularly private consumption, the promotion of international balance of payments.

United States Department of Commerce, International Trade Administration national export initiative Manager Kate NI · mangle dead ya in the seminar also acknowledged that the Sino-US trade imbalance cannot simply boil down to exchange rate issues, "United States other administrative departments yet excessive appreciation of the RMB. Personally, I think, to exchange rate issues are difficult to realize Obama's 5 year exports doubled. ”

Trade balance is the key to the US

Since the Obama administration proposes five-year plan for the promotion of exports doubled, the United States have introduced national export initiative. According to mangle a certain cure ya, these measures include United States exporters provide training, increase export financing, reducing trade barriers, through rules-based international trading system and strengthening the implementation, promotion of economic development to achieve strong sustainable balance.

However, in other markets on United States products more open at the same time, the United States own practice but seem less "lane".

Chong Quan, the US-China trade remedy investigations in the history of 2009 reached its peak, there were 23 on anti-dumping, countervailing or safeguard investigation, $ 72 million, representing an increase of the 2008 respectively 53% and 8% of the world's total trade relief survey and 25% of the total, and 65%.

At the same time, the US China export controls are also not relax. Although 31 August, Obama Government officially announced that the United States export control reform of new programmes, mangle dead ya stressed, as it involves national security, the reform also need many departments of the United States Government. Not long ago the outgoing American release C-130 large transport exports to China, after the United States interpreted as allowing only temporarily C-130 exports to China, but the only transport aircraft in the regional oil spill response operations in China, refuelling or supply of oil spill dispersants dispersion of chemical agents, and no C-130 conveyor has entered or is sold to China; this release is only a contingency plan.

In addition, the United States in China rare earth export policy and the development of new energy industry policy started more

Combined with the accused, and start on the new energy policy measures 301 investigation.

Chong Quan, reaffirmed that the present situation of Sino-US trade is bilateral trade and investment as a result of structural adjustment. At the same time, the United States export controls to China increased bilateral trade imbalances. "To achieve more balanced trade, the key is not to limit imports from China, but the expansion of the United States product exports to China. ”

Chong Quan, the United States in the implementation of the initiative to expand exports to take practical action in the process, including the relaxation of export controls to China, through expanded advantage product exports to China to achieve a reasonable balance between bilateral trade.

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