Our sister site MetalMiner announced today the launch of months-long project examining China’s rise to power in global trade and its attempts to gain market economy status (MES) from the World Trade Organization (WTO) members.
“While the mainstream media has taken advantage of reporting presidential hopeful Donald Trump’s numerous references to China and his blunt stance on how he intends to change our relationship with that country,” MetalMiner Managing Editor Taras Berezowsky wrote in a post introducing the project, “our journalists and editors set out to unpack the tangible drivers behind these types of general sentiments, with a particular focus on — and for — U.S. manufacturing organizations.
Visit China vs. the World: Why the Battle for New Trade Status is Such a Huge Deal to learn more.
In related global trade news, the WTO sided with the U.S. and Boeing this morning in a trade dispute surrounding subsidies from E.U. member countries to Airbus. A panel at the Brussels-based organization found the E.U. had provided billions of dollars in illegal funding and thus harmed Boeing’s sales business, Deutsche Welle reported.
The Chinese government is reviving a push to merge its state-owned steel companies into the world’s largest steelmaker, the Wall Street Journal reported. The move seeks to create industrial titans that can handle global competition and trim excess production capacity to combat falling demand.
And finally, the Federal Reserve did what most rate watchers expected — nothing, yet again. The Federal Open Market Committee will continue to wait for more evidence of economic progress and advised that an increase is still likely by the end of the year.