China Facts - WTO has limitations...


China facts, the irony is that, by withdrawing from the TPP - a trade agreement which though it currently excludes China, might one day have constrained its ability to pollute and subsidies state-owned enterprises - Mr. Trump has immediately turned his back on the most promising way to change the economy. If he really wanted to shake up the global trade system for the better, Mr. Trump would resumed some of the TPP's provisions and use them as the basis for a grand bargain with China and other countries. That would be a beautiful deal, also because WTO law offers no watertight definition of a state-owned enterprises, so it is hard to identify and appose subsidies from state-owned banks*)     



*) the Economist 28th January 2017






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Hans Henrik Pontoppidan
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