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1、【Unit5】TextITheComingTradeWarsWarm-upØThefollowingnewshasmadeheadlinesinanumberofmajornewspapersrecently.13March,2012--TheUS,JapanandtheEuropeanUnionhavefiledacaseagainstChinaattheWorldTradeOrganization,challengingitsrestrictionsonrareearthexports.USPresidentBarackObamaaccuse
2、dChinaofbreakingagreedtraderules.Theyarguethatbylimitingexports,China,whichproducesmorethan95%oftheworld'srareearthmetals,haspushedupprices.Beijinghassetquotasforexportsofrareearths,whicharecriticaltothemanufactureofhigh-techproductsfromhybridcarstoflat-screenTVs.Beijinghasde
3、niedtheallegationsintheWTOcase,sayingthatitenforcedthequotastoensuretherewasnoenvironmentaldamagecausedduetoexcessivemining.China'sIndustryMinister,MiaoWei,toldstatemediaagencyXinhuathatthecountrywas"activelypreparingtodefendourselves"againsttheWTOcomplaintsanddeniedthequotas
4、weretradeprotectionism.ChineseforeignministryspokesmanLiuWeiminsaid:"WethinkthepolicyisinlinewithWTOrules.Exportshavebeenstable.Chinawillcontinuetoexport,andwillmanagerareearthsbasedonWTOrules."ØWhatkindoforganizationisWTO?Whatkindofroledoesitplayinsettlingdisputesininternati
5、onaltrade?TheWorldTradeOrganizationisaninternationalorganizationdesignedtosuperviseandliberalizeinternationaltrade.TheorganizationofficiallycommencedonJanuary1,1995undertheMarrakechAgreement,replacingtheGeneralAgreementonTariffsandTrade(GATT),whichcommencedin1947.TheWTO’sproc
6、edureforresolvingtradequarrelsundertheDisputeSettlementUnderstandingisvitalforenforcingtherulesandthereforeforensuringthattradeflowssmoothly.ØNametherecentcasesoftradeconflictsthatyouknow,andfindoutthemajorcomplaints.In2009,WashingtonexpandedsanctionsagainstEuropeanfoodproduc
7、tsinretaliationforEurope'sboycottagainsthormone-treatedAmericanbeef.22【Unit5】TextITheComingTradeWarsAfterthe2008financialcrisis,U.S,governmentinitiatedabailoutplanofGMandChryslertotheexclusionofforeignfirms.Asaresponse,E.U.accusedU.S.ofviolatingtheso-called"nationaltreatment"
8、clausesintradeagreements,andputWashingtononnoticethatitwillpursueleg
