Comments by "D W" (@DW-op7ly) on "China is furious over Europe's changed EV taxes that favour Tesla" video.
-
2
-
@waynegnarlie1
On 1 July 2018, China slashed the import tariff rates of daily consumer goods involving 1,449 tariff lines. The term ‘daily consumer goods’ covers eight categories of product: food; apparel, footwear and headwear; furniture and houseware; sundry grocery items; cultural, sports and entertainment supplies, home electronics; daily chemical products; and medical and health products.
The average tariff rates of the goods involved have been reduced from 15.7% to 6.9%, a reduction of 55.9%. Among these, the average import tariffs for apparel, footwear, headwear, kitchenware and fitness products have been reduced from 15.9% to 7.1%. For home appliances, such as washing machines and refrigerators, the reduction was from 20.5% to 8.0%. For processed food, the rates were cut from 15.2% to 6.9%. The average tariff rates for detergents, cosmetics, such as skincare and haircare products, and some medicine and health products have fallen from 8.4% to 2.9%. This is the fifth time that China has lowered import tariffs for consumer goods in recent years.
In November 2018, China reduced the import tariffs on 1,585 taxable items, including industrial goods. The average tariff rate for high demand mechanical and electrical equipment, such as construction machinery, instruments and meters, was lowered from 12.2% to 8.8%. For textiles and building materials, the average tariff rate was cut from 11.5% to 8.4%, while that for certain resource goods, such as paper products, as well as primary goods fell from 6.6% to 5.4%.
ResearchHKTDC
1
-
@TheBooban
The western multinationals went to China at the time because of their weak labour laws, weak environmental laws, mass pool of cheap labour they could pay dollar a day wages to
And yes weak IP laws that went along with it
In exchange???? the western multinationals traded knowledge and investment
This was nothing new, the west goes to 3rd world or developing nation takes advantages of this country until the locals complain about wages, pollution, or environmental damages.
Western multinationals pick up and run for it.
I would argue yes they expected the Chinese to buy 1 billion toothbrushes and 2 billion socks
But they didn’t expect them to enrich themselves
My evidence is even before the west pushed for Chinese WTO inclusion the Top of the food chain 1%ters and their TooBigTooFail Investment Banks worked out the worst deal ever for themselves
Where these TooBigTooFail Investments Banks got a 33% interest in a “Joint Venture Chinese Investment Banking Subsidiary.” Where the Chinese Bank got a 67%
Difference is the Chinese didn’t complain they put up with those dollar a day wages making 22 times less than what an average American worker made.
Yet saved 30% of those wages over 30 plus years. Indirectly loaning those saving to those Americans so they could spend their savings and borrow to spend some more.
While the Chinese invested or made a business with their savings
Where the Chinese lowered their standards of living while the Americans were able to raise their standards of living with those cheaper goods
If anything the Chinese were dragging their feet on the TRIPS agreement under the WTO….specifically regarding developing countries
👇
Developing countries’ transition periods Provisions for developing countries, economies in transition from central planning, and least-developed countries
Developing countries and economies in transition from central planning did not have to apply most provisions of the TRIPS Agreement until 1 January 2000.
The provisions they did have to apply deal with non-discrimination.
Article 65.2 and 65.3
Least-developed countries were given until 1 January 2006.
Article 66.1.
Members have agreed to extend the deadline to 1 July 2034, or to the date a country is no longer “least-developed”, if that is earlier.
Pursuant to the Doha Declaration on TRIPS and Public Health, a separate transition period exists for pharmaceutical patents, which currently runs until 1 January 2033.
WTO
1