Posted on 11/14/2014 4:39:51 PM PST by TigerLikesRooster
Rise of protectionism in China a threat to commodities imports
By Fayen Wong
SHANGHAI Fri Nov 14, 2014 1:12pm EST
(Reuters) - As China lobbies world leaders to back its free trade plan at an Asia-Pacific summit this week, businesses are complaining about Beijing's use of non-tariff barriers from customs clearance to quality restrictions to curb raw material imports.
Amid a slowdown in economic growth, the world's top commodities buyer is facing a supply glut that has sent local prices tumbling and miners deep into the red. Inventories of iron ore, coal and cotton are bulging at ports across the country and state granaries are overflowing.
The move comes as Beijing has increased its use of a 6-year-old anti-monopoly law to launch a flurry of investigations targeting foreign companies, including Microsoft and Volkswagen AG (VOWG_p.DE), sparking concerns it is seeking to support domestic firms.
(Excerpt) Read more at reuters.com ...
They don't see it coming? Surprised and shocked? Well, the fact of the matter is that they were willfully blind with this possibilities, deep into wishful thinking that China will be always the haven of global business. It is China's mindset that China ought to tower over everybody else in every field by a staggeringly wide margin. They invited foreign business in, and learn business knowhow and new technology. Now it is time to open their own shop and set out to drive out the foreign business they invited in. Chinese state is more than happy to help, using the leverage of powerful political muscle. Tom Friedman, Jim O'Neill, those China cheerleaders, where are they? Care to respond to this development?
P!
You are so right.
It has always been the Chinese government and people’s mindset going back thousands of years. Assimilate their enemies and overcome them even if it takes Centuries to do so. And with modern technology that can be reduced to decades.
Unfortunately for them they always overreach in the end and then they pay dearly for it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.