06 Jul '11, 10am

Chinese media attack WTO ruling against China

BEIJING - CHINESE media on Wednesday lashed out at a ruling by the World Trade Organisation (WTO) that said Beijing's export restrictions on raw materials are illegal, and warned rare earths would be the next target. The WTO on Tuesday upheld complaints by the United States, European Union and Mexico, ruling that China had failed to abide by accession commitments when it imposed quotas and duties on several types of minerals. These include bauxite, coking coal, fluorspar, magnesium, manganese, silicon metal, silicon carbide, yellow phosphorus and zinc. The Economic Information Daily accused the European Union and United States of wanting access to 'China's low-cost resources to satisfy the needs of their domestic industries, especially the development needs of high-tech industries.' The newspaper - owned by the official Xinhua news agency - said China should be 'on guard' ...

Full article: http://www.straitstimes.com/BreakingNews/Asia/Story/STISt...

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