China unlikely to get economy status from India
Sunday, November 19, 2006 12:23 [IST]
New Delhi: When Chinese president Hu Jintao lands in India on Monday there would be one item on his wishlist that is unlikely to be granted by China's neighbour.
The Chinese President is likely to press for Market Economy Status from India at the highest level as at the official level this demand has been examined and rejected.
"At the recent meeting of the Joint Working Group of officials on both sides the demand from China was examined again and rejected," official sources said.
The demand was rejected as the Indian side was unwilling to take the costs of production quoted by Chinese exporters on face value during anti-dumping investigations. This is because China gives huge amount of subsidies and other concessions to its producers thus enabling them to flood markets with cheap products.
China is, however, pressing for market economy status as whenever its exports to a country increase the Chinese companies are slapped with anti-dumping investigations. The lack of market economy status makes them a ready suspect of dumping. |
