Sunday, February 7, 2010
Anti-dumping fiasco:World Trade Organisation alerted
China recently filed a complaint with the World Trade Organization (WTO) over the European Union's extension of anti-dumping duties on Chinese-made leather shoes. This action has triggered the WTO dispute settlement procedure. The EU started levying anti-dumping duties against leather shoes imported from China in 2006. These were extended by another 15 months in 2009 by the EU's executive body. Over the past 10 years, Europe's shoe-making industry has been in decline whilst their counterparts in Asia and the Middle East have been burgeoning. The quota restrictions were imposed by the EU to protect the industrial sector. The result has been European consumers now pay more for footwear and because of falls in imports from China 20,000 Chinese shoe workers are now without jobs.