U.S. WTO Brief Rejects China’s Bid for ‘Market Economy’ Status

WASHINGTON—The Trump administration has formally rejected China’s demand that it be treated as a “market economy” under global trading rules, a move likely to heighten tensions between the world’s two largest economies.

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U.S. reaffirms China’s Non-Market Economy (NME) Status in antidumping case

Recently, the U.S. administration reaffirmed China’s non-market economy (NME) status for antidumping purposes.

The U.S. Commerce Department has instructed Customs and Border Protection to collect cash deposits from U.S. importers of Chinese-made aluminum foil at dumping margins ranging from 96.81 percent to 162.24 percent. Read more

“The U.S. is not changing China’s status as a non-market economy” – senior U.S. official

“The U.S. is not changing China’s status as a non-market-economy,” a senior U.S. administration official said in an interview. “China’s protocol of accession to the WTO doesn’t require the U.S. or any other WTO member to automatically grant China market-economy status after December 11, 2016.” Read more

China is a non-market economy: nine steel associations

“The global steel industry is currently suffering from a crisis of overcapacity and the Chinese steel industry is the predominant global contributor to this problem. There is almost 700 million metric tons of excess steel capacity globally today. China’s overwhelmingly state-owned and state-supported steel industry has an overcapacity ranging from 336 to 425 million metric tons and it is expected to grow in the coming years. This situation, together with a declining steel consumption, has resulted in record levels of steel exports from China to the rest of the world in 2014 – and which are on track to exceed 100 million metric tons this year. Read more

Pay increases depend on productivity – Bui Sy Loi

Bui Sy Loi, Deputy Head of the National Assembly’s Social Affairs Committee, speaks to Ha Noi Moi (New Ha Noi) about salary reforms.

Will you please ex-plain why workers’ average wages in Viet Nam are lower than their peers in the region and the world?  

It is a universal truth that adjustment of a worker’s minimum wage and their basic monthly salary depend on the economic growth rate, labour productivity and consumer price index (CPI) of the country. Read more

Điều chỉnh tiền lương lúc này sẽ như “đổ dầu vào lửa” – đại biểu Bùi Sỹ Lợi

Tại phiên thảo luận tổ về tình hình kinh tế xã hội chiều 25/5, một số vị đại biểu đã đặt vấn đề ngân sách tăng đến 80 ngàn tỷ thì việc tăng lương không phải khó.

Tuy nhiên, theo Phó chủ nhiệm Ủy ban Về các vấn đề xã hội, đại biểu Bùi Sỹ Lợi thì thực tế chưa đủ các điểu kiện để điều chỉnh lương cơ sở.

“Chỉ số giá tiêu dùng chưa tăng quá mức, việc mất giá trên giá trị thực của đồng tiền không lớn, chưa ảnh hưởng đến mức sống của người dân, chưa tạo ra áp lực phải tăng lương. Read more

World Bank: Lương tối thiểu có quá cao không?


Cập nhật mới gần đây nhất của Ngân Hàng Thế Giới về tình hình phát triển kinh tế của Việt Nam đã kết luận rằng (1) lương tối thiểu cao, nếu được thực hiện, sẽ cắt giảm việc làm chính thức; (2) ngoài khu vực chính phủ, lương tối thiểu tại Việt Nam đã tăng nhanh trong những năm gần đây, vượt tăng trưởng năng suất lao động; và, (3) lương tối thiểu của khu vực tư nhân tại Việt Nam tương đối cao so với các quốc gia khác.

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Ministry of Finance sets powdered milk prices

MoF sets milk pricesIs Vietnam a non-market economy?

The Ministry of Finance has issued a decision imposing price ceilings on 25 powdered milk products for children under six years old. The decision, issued May 20, will be effective 10 days later, on June 1 and must be applied no later than 10 days to wholesale products and no later than 20 days to retail products. Read more

Vietnam requires dairy products price caps

VN requires dairy firms to set price capsPrime Minister Nguyen Tan Dung approved a Finance Ministry plan, Tuesday, designed to impose one-year price caps on children’s dairy products, after researchers reported the major firms had implemented price hikes in spite of huge profits.
A ministry report released at a government meeting said that after raising their profits an average of 23 percent last year, the five largest dairy firms Mead Johnson, Nestlé, FrieslandCampina Vietnam, Vinamilk and 3A Nutrition JSC (a distributor) raised prices by up to 30 percent per product since last December. Read more