China’s export growth is “outstandingly strong” according to the WTO. That description came with the news today that in the last six months of 2006 China surpassed the U.S. as the world’s second largest exporter, along with the WTO’s prediction that China…

“…will almost certainly finish above the U.S. in the 2007 totals… (and will) overtake Germany as the world’s biggest exporter in 2008.”

Outstanding is not a word that should be used to describe China’s surge, given that it’s the result of an undervalued currency, illegal subsidies that give Chinese exporters the upper hand, barriers that prevent goods from other countries from entering the vast Chinese market, and widespread piracy and copyright violations.

China is taking advantage of the inability, and in many cases unwillingness, of the WTO and policy makers around the globe to enforce trade laws and hold China accountable. As a result, they are being allowed to play by a different set of rules than is required of their trading partners. Outstanding? No. Outrageous? Yes.

This entry was posted on Thursday, April 12th, 2007 at 11:29 pm and is filed under Holding China Accountable, Currency Manipulation, Enforcing Trade Laws. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.