China’s free ride on trade may be coming to an end with Japan, America, and th European Union all coming together to demand China open up trade the way other nations have opened up trade to China.
Japan, the U.S. and the European Union will join together to call for fairer trade practices at the ministerial meeting of the World Trade Organization to be held in Buenos Aires from Sunday. They are expected to announce a joint policy to develop new rules to help maintain both industry policies and fair trade practices, in an attempt to indirectly pressure China.
Japanese Minister of Economy, Trade and Industry Hiroshige Seko, U.S. Trade Representative Robert Lighthizer, and EU Trade Commissioner Cecilia Malmstrom will hold talks Tuesday. They hope to draw up a joint document to express their commitment to work together to fight state policies that could undermine fair and transparent trade.
The document is expected to emphasize the importance of a framework to address national policies that could be harmful to fair trade, such as excess production, preferential treatment and indirect subsidies to state enterprises. It will also oppose excessive government controls on the internet. While it will not be directed at any particular government, it will be intended to persuade Beijing to reconsider its current policies.
Read More at Nikkei Asian Review