Everyone is Guilty

Monday, September 07, 2009 , , , , , 0 Comments

I mean... the title says it all. Or was that the "China is watching" part?


The ability of the U.S. and the EU to respond to subsidies by developing nations such as China may depend on how the countries in the Boeing-Airbus dispute react to eventual final rulings by the WTO, according to former U.S. Trade Representative Susan Schwab.

“What will China think as it endeavors to build an aircraft industry of its own over the next 20 years?” Schwab, a professor at the University of Maryland in College Park, said in an interview on Sept. 1.

In 2007, Schwab proposed that the WTO’s list of illegal subsidies be expanded to include forgiveness of government loans, provision of equity capital and loans given to “uncreditworthy” companies.

The U.S. bailouts have included all the measures the proposal would have banned.

“We have gone on a subsidy binge,” John Magnus, a lawyer who specializes in trade subsidies at Miller & Chevalier in Washington, said in an interview. “We would be ridiculed” if the U.S. began a new drive for limits on subsidies, he said.

Oooh, question. Where does the PPT fit into all this? Because if that isn't a subsidy, I'm not sure what to call it...

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.