Global News Of Note: World Leaders Criticize China’s “Unfair” Industrial, Trade Practices

What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:

• As Politico reported, last week Canada, the United States, and other members of the World Trade Organization “accused China of undermining the rules-based global trading system through its massive use of industrial subsidies and other practices.” Close to 50 delegations publicly criticized China’s performance over the 20 years, since it joined the WTO. As Reuters reported, officials from the European Union said that the degree to which China has reformed and opened is not commensurate with its weight in the global economy, or comparable to the access its goods have to the markets of other WTO members. Those leaders urged China to adopt further market reforms and play a role in the WTO equal to its economic weight. Australian officials said China’s practices increasingly have been inconsistent with its WTO commitments, according to trade sources.
• As Reuters reported, China’s economy grew by 4.9 percent in the third quarter, down from 7.9 percent the quarter before. The third quarter rate was the slowest increase in a year and likely was hindered by supply chain delays and power outages that impeded manufacturing activity.