Should Chinese Producers be Allowed to “Dump”

On its website, The World Trade Organization (WTO)  defines dumping as “a company export[ing] a product at a price lower than the price it normally charges on its own home market . . . .” In light of ongoing disputes even between the U.S. and E.U., the primary target of these “dumping” charges is China.

China continues bringing parties, including the U.S. and the E.U. before the WTO  with the express purpose of maintaining their competitive advantage.  The U.S. and E.U along with countries like Brazil are joining together to argue that producers from Non-Market Economies (NMEs) are at a distinct advantage over local producers  when they “dump” products at lower prices.  China will continue to vigorously fights these practices with some success int he WTO.

We’d like your thoughts . . . Should NME producers be allowed to continue this practice at the expense of workers and businesses in free markets?

ARGH!!!! Pirate Attacks on the Increase

Hollywood and fairy tales may fantasize pirates, but for international maritime trade pirates are certainly a plague. The International Maritime Bureau (IMB) reports that for the first half of 2011 pirate attacks increased to 266 from 196 for the same period of 2010. While more than 60% of these attacks stem from Somali-pirates this is a growing worldwide phenomena. Europe Online Magazine reports that that maritime piracy costs the global economy up to $12 billion last year. You can read more of the IMB’s report here: http://www.icc-ccs.org/news/450-pirate-attacks-at-sea-getting-bigger-and-bolder-says-imb-report.

Challenges Await New IMF Leader

Did you know Europe was now the biggest client of the International Monetary Fund? Newly elected IMF Managing Director Christine Lagarde certainly does. While she may have been the favorite among the inner circle all along, convincing non-European countries of her impartiality is one of many challenges she must confront if the IMF is to be relevant around the globe. You may read more about her selection and the most pressing issues she will be forced to confront by following this link http://www.economist.com/node/18897575