This story was reported in the print version of Bloomberg Businessweek June13-19.
Apparently, General Electric and Nucor brought a complaint to the World Trad Organization (WTO) arguing that China's subsidy of wind power "violated international trade laws and harmed component manufacturers outside China."
The story is not detailed enough so I'm just guessing.
Perhaps the purported harm resulting from China's subsidy of wind power stemmed from less reliance (or future less reliance) on nuclear power.
And of course nuclear ain't subsidized is it?
Of course, nuclear is government subsidized or there would be no nuclear plants in capitalist markets because no insurance company would insure a nuclear plant, for good reason.
Now Nucor's involvement is less clear. However, go to Wikipedia and read about Nucor's history and you will learn how connected it was to the nuclear industry http://en.wikipedia.org/wiki/Nucor
The World Trade Organization is a completely NON-DEMOCRATIC organization that serves the interests of powerful nations and transnational corporations. All proceedings are entirely closed. WTO administrators are appointed, not elected. THERE IS NO TRANSPARENCY, REPRESENTATION, OR DEMOCRACY WHERE THE WTO IS INVOLVED.
So, the WTO officials representing the world's most powerful nations and transnational corporations are probably only too happy to help GE and Nucor out by ruling against China's subsidy of alternative energy.
I'm not usually one to come to China's defense because the government there has allowed the poisoning of its population in order to maximize industry (anyone read about lead poisoning in China?).
However, the incredible hypocrisy here is that alternative energy in almost all advanced economies receives some subsidies to make it cost-effective in its infancy. By the way, this practice of subsidizing infant industries has existed for two hundred years plus in the U.S. How do you think the early railroad tracks were funded? Cities and communities sponsored early track to their communities....
This WTO ruling is truly grotesque and demonstrates once again what kind of a corrupt and corrupting organization GE really is.
Apparently, General Electric and Nucor brought a complaint to the World Trad Organization (WTO) arguing that China's subsidy of wind power "violated international trade laws and harmed component manufacturers outside China."
The story is not detailed enough so I'm just guessing.
Perhaps the purported harm resulting from China's subsidy of wind power stemmed from less reliance (or future less reliance) on nuclear power.
And of course nuclear ain't subsidized is it?
Of course, nuclear is government subsidized or there would be no nuclear plants in capitalist markets because no insurance company would insure a nuclear plant, for good reason.
Now Nucor's involvement is less clear. However, go to Wikipedia and read about Nucor's history and you will learn how connected it was to the nuclear industry http://en.wikipedia.org/wiki/Nucor
The World Trade Organization is a completely NON-DEMOCRATIC organization that serves the interests of powerful nations and transnational corporations. All proceedings are entirely closed. WTO administrators are appointed, not elected. THERE IS NO TRANSPARENCY, REPRESENTATION, OR DEMOCRACY WHERE THE WTO IS INVOLVED.
So, the WTO officials representing the world's most powerful nations and transnational corporations are probably only too happy to help GE and Nucor out by ruling against China's subsidy of alternative energy.
I'm not usually one to come to China's defense because the government there has allowed the poisoning of its population in order to maximize industry (anyone read about lead poisoning in China?).
However, the incredible hypocrisy here is that alternative energy in almost all advanced economies receives some subsidies to make it cost-effective in its infancy. By the way, this practice of subsidizing infant industries has existed for two hundred years plus in the U.S. How do you think the early railroad tracks were funded? Cities and communities sponsored early track to their communities....
This WTO ruling is truly grotesque and demonstrates once again what kind of a corrupt and corrupting organization GE really is.
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