US president Barack Obama has fired a parting shot at Beijing with his administration launching a challenge to one of the competitive pillars of the Chinese economy just a week before leaving office.
Yesterday, the US launched a new case at the World Trade Organisation that is nominally targeted at the Chinese aluminium industry. The US and others have accused China of flooding world markets with underpriced aluminium, steel and other products in recent years.
But according to US officials, the latest case, is aimed squarely at challenging how Beijing’s financial sector subsidises China’s industry via artificially cheap financing.
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