BEIJING [url=http://www.cheapjustdoitpackaustralia.com/men-s-nike-air-max-97-triple-white-australia.html]Men's Nike Air Max 97 Triple White Australia[/url] , Dec. 4 (Xinhua) -- The United States is throwing cold water on the growing geniality of trade relations between itself and China with its rebuke of the latter's bid for recognition as a market economy in the World Trade Organization (WTO).

The U.S. government recently formally opposed to China's bid, citing decades of legal precedent and what it sees as signs the country is moving in the opposite direction.

The truth is that denial of such status for China will give the U.S. government useful tools to launch trade probes into Chinese imports under the excuses of dumping goods at unfair price advantages.

REFUSAL DISTORTS FACTS

The U.S. decision comes as the Trump administration is seeking to bridge the trade deficit with China for the so-called fair and balanced trade. To achieve that end, it is tempting to turn a blind eye to China's concrete moves of market liberalization, international observers said.

Since China has implemented the opening up and reform policy, it has made consistent efforts to improve its market economy system, which has won global recognition. The U.S. refusal distorts facts, according to a spokesperson for the Ministry of Commerce.

China is now the world's largest goods trading nation, being the top trading partner of more than 120 countries and regions.

Su Qingyi, a researcher with the Chinese Academy of Social Sciences, said the "non-market economy status" has not held China back from making those achievements.

The United States will not benefit from a battered bilateral trade relationship considering its interwoven interests with China. Protectionist measures also impair the interests of U.S. companies and consumers.

Over the past three decades, bilateral goods trade surged from 2.5 billion to 524.3 billion U.S. dollars. Low-cost and high-quality Chinese products have helped raise the living standard of Americans.

While much of the U.S. political campaign rhetoric focused on jobs leaving the United States, Chinese investment is supporting more jobs on that side of the Pacific.

UNDERMINED INTEGRITY

In response to the U.S. rejection, Chinese commerce ministry official Wang Hejun said it undermines the seriousness and authority of multilateral rules.

Article 15 of the Protocol on China's accession to the WTO in 2001 has clearly dictated that China will automatically switch over to market economy status when the surrogate country approach expires in 15 years, which means, on that day, the legal foundation for treating China as a non-market economy is gone.

The United States is setting a bad example by breaking international rules, Su said.

Honoring contracts is the basic principle of the market economy, and the United States is breaching this principle, said Bai Ming, a researcher with the Chinese Academy of International Trade and Economic Cooperation.

The U.S. rejection reflects its panic and ideological prejudice, said Zhang Jingwei, a researcher with Chongyang Institute for Financial Studies under the Renmin University of China.

Analysts said that China is likely to take legal action at the WTO against members who are not observing the rules, including the United States. Further retaliatory trade measures may also be considered.

Even if an all-out trade war is avoidable, no party will emerge unscathed, Zhang said.

4 Things to Consider When Taking Up a Home Loan

Posted by oscar123 on December 21st, 2016

Looking for the best housing loan in Singapore? Consider the following:

1. Affordability of the Loan

The Total Debt Servicing Ratio (TDSR) is as a useful tool to determine the affordability of a home loan. TDSR is the proportion of one’s monthly gross income that is spent on settling debts.

In Singapore, borrowers are expected to keep their TDSR to less than 60%. For example, if one is earning a gross income of S,000 a month, then his or her total debt which includes home loans, credit card loans, car loans, and the like — should amount to only S,000 or less.

Therefore, an affordable housing loan is one that allows the borrower to keep his or her TDSR within the specified percentage limit.

2. Interest Rates

Interest rates can come in the form of fixed rates or floating rates. When choosing the best type of interest rate, it is important to pay attention not only to the interest rate being advertised upfront, but also to the cumulative interest to be paid throughout the entire loan tenure.

3. Loan Conditions

Another important consideration when it comes to home loans are the terms and conditions that come with the loan. Are there processing fees and prepayment fees that need to be paid? Are there additional privileges being offered together with the loan such as a lower interest rate on a home renovation loan?

4. Repayment Period

Typically, a longer loan tenure will result in a lower monthly instalment fee, while a shorter loan tenure will result in a higher monthly instalment fee.

Should one decide to go for a longer loan tenure, one needs to make sure that there are no major cash-flow fluctuations throughout the loan’s repayment period.

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