Monday, March 12, 2007
CHINA SAYS US AND EUROPE ARE THE MAIN OBSTACLES TO GLOBAL TRADE DEAL
By Richard McGregor in Beijing
Tuesday, March 13, 2007
The failure of the US and the European Union to make concessions on farm tariffs and subsidies is the biggest obstacle to a successful conclusion of the Doha round of world trade talks, Bo Xilai, China's commerce minister, said yesterday.
Mr Bo's comments, which coincided with the release of figures showing a near-record monthly trade surplus for China in February, will irritate the US and Europe which complain privately that Beijing has not pulled its weight in the round.
China's trade surplus for January and February reached $39.7bn, driven by a 41.5 per cent growth in exports, more than double the increase in imports over the same period. The surplus in February was $23.8bn, the second highest on record, but the combined figure is more accurate than a single month's data because it eliminates the distorting effect of China's moveable new year holiday.
China, the world's second biggest trading nation, has kept a low profile in the Doha trade round, which is being painstakingly negotiated in private discussions between a handful of countries ahead of an unofficial June 30 deadline.
Mr Bo insisted that China had tried to play a constructive role in the talks and said “in brief” the biggest problem impeding progress in the round was the attitude of the US and Europe.
“As the world's two largest traders, [they] have yet to make substantial concessions on high import tariffs on farm products, export subsidies for agriculture and the huge domestic support for their agricultural products,” he said.
Defending China's position, Mr Bo said in some respects, China as a developing country “has already done more than it should have”. Criticism of China for not doing enough, Mr Bo said, reminded him of the old Chinese saying that the “crying baby gets more milk”.
“By incorrectly saying China is the biggest beneficiary of the round, these people are trying to get China to make more concessions,” he said.
“We are a responsible and active participant in global trade, and we will not have a free lunch in the Doha round talks.” ¶ 4:35 PM
Tuesday, March 13, 2007
The failure of the US and the European Union to make concessions on farm tariffs and subsidies is the biggest obstacle to a successful conclusion of the Doha round of world trade talks, Bo Xilai, China's commerce minister, said yesterday.
Mr Bo's comments, which coincided with the release of figures showing a near-record monthly trade surplus for China in February, will irritate the US and Europe which complain privately that Beijing has not pulled its weight in the round.
China's trade surplus for January and February reached $39.7bn, driven by a 41.5 per cent growth in exports, more than double the increase in imports over the same period. The surplus in February was $23.8bn, the second highest on record, but the combined figure is more accurate than a single month's data because it eliminates the distorting effect of China's moveable new year holiday.
China, the world's second biggest trading nation, has kept a low profile in the Doha trade round, which is being painstakingly negotiated in private discussions between a handful of countries ahead of an unofficial June 30 deadline.
Mr Bo insisted that China had tried to play a constructive role in the talks and said “in brief” the biggest problem impeding progress in the round was the attitude of the US and Europe.
“As the world's two largest traders, [they] have yet to make substantial concessions on high import tariffs on farm products, export subsidies for agriculture and the huge domestic support for their agricultural products,” he said.
Defending China's position, Mr Bo said in some respects, China as a developing country “has already done more than it should have”. Criticism of China for not doing enough, Mr Bo said, reminded him of the old Chinese saying that the “crying baby gets more milk”.
“By incorrectly saying China is the biggest beneficiary of the round, these people are trying to get China to make more concessions,” he said.
“We are a responsible and active participant in global trade, and we will not have a free lunch in the Doha round talks.” ¶ 4:35 PM
