The European Commission says it has reached "an amicable solution" with Beijing in a row over imports of Chinese solar panels. Both sides have agreed a minimum price for the panels, EU Trade Commissioner Karel De Gucht said.
The dispute erupted after the Commission - the EU's executive arm - imposed temporary anti-dumping levies on the imports. It argued that Chinese firms were undercutting rivals. China is the world's largest producer of solar panels. Its exports to Europe totalled 21bn euros ($27bn; £18bn) in 2011. "After weeks of intensive talks, I can announce that I am satisfied with the offer of a price undertaking submitted by China's solar panel exporters," Mr De Gucht said on Saturday. "This is the amicable solution that both the EU and China were looking for."
He added that the agreement would "lead to a new market equilibrium at sustainable prices". The anti-dumping case was the biggest ever undertaken by the Commission.EQUILIBRIUM? FOR A DEAL THAT ESSENTIALLY PRICE-FIXES TECHNOLOGY DOOMED TO OBSOLESCENCE AND MARKET FAILURE!?
THIS DEAL IS TANTAMOUNT TO A DEAL BETWEEN STANLEY STEAM CARS AND SERPOLLET TO FIX THE PRICE OF STEAM ENGINES.
ALL IT REALLY DOES IT PROTECT FRIENDS OF THE POLITICIANS IN BOTH COUNTRIES WHO CONTROL THEIR RESPECTIVE INDUSTRIES.
IF THE TECHNOLOGY WAS REALLY GOOD, THEN THE FREE-MARKET WOULD SUPPORT IT.
AND ANOTHER THING:
NEARLY ALL OF CHINA'S COMPANIES ARE GOVERNMENT SUBSIDIZED - AND ENJOY BENEFITS OF THOSE SUBSIDIES: THEY MAKE IT EASIER FOR THEM TO UNDERCUT GLOBAL MARKETS.
THIS IS WHY IT'S ABSURD FOR CHINA TO BE IN THE WTO.
AND IT'S HYPOCRITICAL FOR OTHER NATIONS TO CRY FOUL WHEN, AFTER ALL, THEY TOO SUBSIDIZE FAVORED COMPANIES AND INDUSTRIES - AS THE USA HAS DONE WITH THE SO-CALLED "GREEN ECONOMY" UNDER OBAMA.
YES: WE NEED FREE TRADE BETWEEN FREE-MARKET ECONOMIES.
REALLY FREE TRADE BETWEEN REALLY FREE-MARKET ECONOMIES.
A FUNCTIONING WTO WOULD SANCTION ALL GOVERNMENTS THAT PROHIBIT AND INHIBIT AND PERVERT FREE-MARKETS.