Europe in decline?
The Nobel Prize winning Columbia University economist Edward Phelps maintains that innovation is the key to economic growth, prosperity and human happiness.
China's Ministry of Commerce announced on Tuesday that it will extend anti-dumping duties on rubber imported from Japan, the US and the European Union for another five years starting 10 May.
The anti-dumping duties on chloroprene rubber imported from those countries was imposed in 2005.
The tax is levied on the grounds that the products were being dumped on the Chinese market at lower-than-market prices.
Advertisement
The anti-dumping duties were extended for another five years in 2011.
The latest decision followed a review launched in 2016 that found the domestic industry could be harmed if anti-dumping duties were discontinued.
The anti-dumping duty rates for Japanese imports range were less than 50 per cent, while those for the US and European producers were much higher.
Chloroprene rubber, commonly known as Neoprene, is mostly used to manufacture electrical cables and waterproof products.
Advertisement
