Canada Welcomes WTO Decision

In a recent World Trade Organization (WTO) ruling, import taxes levied against Canadian auto firms by the Chinese government were found to be inconsistent with global free trade obligations, and China was asked to remove the offending levies immediately. China has reportedly been charging an additional import tax of 25% on all vehicle accessories from Canada, leaving foreign automakers in that country with a considerable cost disadvantage.

China is the primary market for Canadian autoparts, with average annual imports between 2003 and 2007 of CDN 225 mln. The most recent ruling by the WTO comes after several years of appeals by China.

McDonald’s, KFC Lower Prices To Weather Financial Storm

After years of increases, large fast food chains in China are finally lowering prices. According to China’s “National Business Daily”, McDonald’s and KFC have launched value meals and promotions providing discounts of as much as 32% and 35% below regular prices.

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— The Dragon Exports Team