economic crisis usa 2009

economic crisis usa 2009

New Development on China-USA Tire Special Safeguard Case

At the meeting of the WTO’s Dispute Settlement Body on December 21st, 2009, China’s delegation indicated that the special safeguard measures announced by USA government on September 11th, 2009 to carry out punitive tariffs on Chinese-made passenger car and light truck tires for 3 years were made under the pressure of the trade protectionism in USA, which not only deviate from the international consensus to avoid protectionism measures under the financial and economic crisis but also damage the interests of the two countries. Moreover, these measures were made by USA government without supporting facts, so it goes against the relevant WTO rules.

China’s delegation also pointed out that Chinese government persists in the importance of cooperation and negotiation among countries to cope with the financial crisis. Any unfair and irrational protectionism measures will do harm to the interests of the country and its cooperators. As a trading power, USA should undertake the liability to ensure the global fair and free trading environment.

Chinese government initiated the WTO dispute resolution procedures on USA tire special safeguard measures on September 14th, 2009. According to the procedures, China and USA carried out the negotiation on the case in Geneva in November 2009. However, there is no satisfactory solution.

Though China’s delegation presented the request to set up an expert panel, it was rejected by USA side based on related procedures. At the following meeting of the WTO’s Dispute Settlement Body scheduled on January 19th, 2010, China’s delegation can request again for setting up the expert panel, which cannot be rejected by USA side. Thus, the expert panel will be established automatically.

It will be at least half a year for the WTO expert panel to give the verdict on a dispute.

For more information on the China-USA tire special safeguard case, please visit:

http://www.shcri.com/reportdetail.asp?id=241

Contacts:
Eileen Gu
Sales Manager
China Research and Intelligence
www.shcri.com
Email: eileen@shcri.com
TEL: 86-21-6852-1029 ext.601
86-21-6150-9706
FAX: 86-21-6852-1029 ext.604

About the Author

Based on the database, Interviews and research methods from China Research and Intelligence, CRI analyzes the development and opportunities in this industry clearly.
Contacts:
Eileen Gu
China Research and Intelligence
www.shcri.com
Email: eileen@shcri.com
TEL: 86-21-6852-1029
86-21-5842-6733

Im travelling to USA in March 2009, what should I do considering the current economic crisis?

I have booked half my trip but still have accommodation to book in NY, Boston, DC, etc but I don’t know whether to book now in case the dollar gets worse or wait and hope the AU Dollar gets stronger.

The way the dollar is now, it is going to cost me a lot more than I first predicted when I booked my flights and tour in July.

Does anyone have any suggestions?

I am going overseas in Decemeber and I too am from Australia. We can only hope the economy will improve. What I reccomend, is spend less but I guarantee you the situation will improve. Unless a crisis breaks out, we will be fine. Enjoy your holiday.

I think the money will rise as soon as any market is stable and comodites as well as tarding commence. The USD will drop soon, drop so low you can’t imagine, the money the USD borrows also means there is pressure on it.

This may be good for you, but do not forget AUSD depends on the markets of Japan, China, USA and a bit of Europe and NZ. Mainly Japan, China and USA <- Aust msut be careful if any of these markets crash, it would mean less trade with Aust (in commodities) and bad for our economy etc...

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