world trade organisation | CHINDIA ALERT: You'll be living in their world, very soon

Chindia Alert: You’ll be Living in their World Very Soon

aims to alert you to the threats and opportunities that China and India present. China and India require serious attention; case of ‘hidden dragon and crouching tiger’.

Without this attention, governments, businesses and, indeed, individuals may find themselves at a great disadvantage sooner rather than later.

The POSTs (front webpages) are mainly 'cuttings' from reliable sources, updated continuously.

The PAGEs (see Tabs, above) attempt to make the information more meaningful by putting some structure to the information we have researched and assembled since 2006.

China to free clearing market for bank cards | Reuters

China will open up its market for clearing domestic bank card transactions, the cabinet said on Wednesday, in a move that could benefit companies such as Visa Inc (V.N) and Mastercard (MA.N), in a booming market worth over $1 trillion (0.62 trillion pounds) a year.

http://www.gettyimages.com/detail/142148940

Access for foreign firms to China’s fast-growing electronic payments market is a controversial issue.

China promised to reform and free its electronic payments market after the World Trade Organisation (WTO) said in 2012 that its behaviour discriminated against U.S. firms.

Wednesday’s announcement by the State Council followed a weekly meeting. Foreign firms that meet its criteria could set up their own clearing companies, it added, but gave no further details.

It was not immediately clear if the move would allow foreign firms to process credit and debit card payments made in yuan in China.

Visa, the world’s largest credit and debit card company, welcomed the move.

via China to free clearing market for bank cards | Reuters.

Posted in China alert, Economics | Leave a Comment »

Tags: booming market worth, China, clearing, economy, electronic payments, Visa Inc, world trade organisation

16/01/2013

* China trade surplus with U.S. may be a quarter smaller

“Lies, lies and statistics”!

Or as in Through the Looking Glass:

“When I use a word,” Humpty Dumpty said, in a rather scornful tone, “it means just what I choose it to mean – neither more nor less.”

“The question is,” said Alice, “whether you can make words mean so many different things.”

Reuters: “The new estimate is one of the key findings of an ambitious project by the OECD think-tank and the World Trade Organisation (WTO) to present a truer picture of underlying trade flows in an age of global supply chains when intermediate inputs can cross borders several times during the manufacturing process.

A man walks in a shipping container area at the Port of Shanghai April 10, 2012. REUTERS/Aly Song

The political purpose of the exercise is to reduce protectionist pressure by demonstrating that governments are shooting themselves in the foot if they raise barriers to imports because, in doing so, they are also hurting their own exporters and competitiveness.

Angel Gurria, secretary-general of the Organisation for Economic Cooperation and Development (OECD), said the value-added approach challenged the conventional wisdom regarding trade.

“Today, we have to think about goods and services as ‘made in the world’, Gurria said.”

via China trade surplus with U.S. may be a quarter smaller | Reuters.

Posted in China alert, Economics, exports, free trade, WTO | 1 Comment »

Tags: European Union, global supply chains, OECD, Organisation for Economic Co-operation and Development, trade balance, world trade organisation, World Trade Organization, WTO

CHINDIA ALERT: You'll be living in their world, very soon

Chindia Alert: You’ll be Living in their World Very Soon

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China to free clearing market for bank cards | Reuters

* China trade surplus with U.S. may be a quarter smaller

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