China divulged the list of American products imported whose tariffs will be raised (if the US does not rethink).
Different economic sanctions are serious weapons of the US. Born in the time of the Cold War, they are not only still used by countries, they are even becoming more often used. For example, last week, one more “black list” of foreign companies was released by US State Department to be punished for “violating US legislation” forbidding the sale of materials and equipment used for producing "weapons of mass destruction" to Iran. Eight of the 14 companies included on the list turned out to be Chinese, while the remaining are Armenian and Moldavian. This was already the third “black list” within 9 months that foresees economic sanctions against China.
China reacted with a harsh statement on the level of spokesman for the Foreign Ministry. However, China did not restrict to only this, while making it understood that it might itself answer with its own sanctions. In addition, China immediately presented the WTO with a list of products imported from the US for customs duties’ discounts will be cancelled, which was introduced in January according to WTO rules. The reason is the violation of WTO rules by the US, which became apparent with the protective tariffs on imported steel. Chinese customs on goods included on that list will increase by 94 million dollars.
Adding the “economic weapon” to the Chinese armoury has its theoretical hidden motive: China is a powerful country with its ambitious investment policy and with more than one billion individual consumers. To obtain the right to penetrate to this market, other countries must not take measures against China that these countries would not like to be taken against them. However, there will always be always reasons for such “sanctions.”
Andrei Krushinsky PRAVDA.Ru Beijing
Translated by Vera Solovieva
Read the original in Russian: http://www.pravda.ru/main/2002/05/22/41562.html
In a weary world of endless US military interventions, sanctions, trade tariffs and chaos, let’s pause and take stock of the shining house on the hill