China Objects As Brazil Seeks Discussion On Currency Trade Remedies

摘要

China this week strongly objected to a Brazilian proposal at the World Trade Organization that seeks to have WTO members fundamentally re-examine whether the WTO provides the right tools to allow its members to counteract the negative effects of currency misalignment on international trade. Zhu Hong, minister and deputy permanent representative of China to the WTO, said in a Nov. 26 meeting of the Working Group on Trade Debt and Finance - where Brazil presented its proposal - that the WTO "is not the right forum to discuss the exchange rate issue," according to a written copy of his remarks.