Global trade report: WTO to push China on intellectual property rights protection
Japan Economic Newswire -- Manufacturing Business Technology, 5/12/2008 12:42:00 PM MDT
The World Trade Organization has drawn up a report urging China to enhance steps to protect intellectual property rights with stiffer fines and criminal penalties for offenders, a copy of the report obtained by Kyodo News showed Saturday.
The report, titled "Trade Policy Review," was prepared for a WTO meeting that will review China's trade policies slated for May 21-23 in Geneva.
While acknowledging some legislative steps undertaken by China to enhance the protection of intellectual property rights, the report notes, "Questions remain about the sufficiency of fines and criminal penalties to deter violations."
The report, drawn up by the WTO Secretariat, comes after the Japanese government called on Beijing in its own report Thursday to take stronger steps to deter the counterfeiting of goods and piracy.
The WTO report shows that the organization shares Japan's concern about violations of intellectual property rights by Chinese companies.
The report could stoke calls in the international community for stronger regulations to counter intellectual property rights violations by Chinese enterprises.
It also points out that China is running huge current account surpluses by placing emphasis on exports and investment rather than domestic demand.
The Chinese economy is grappling with a range of imbalances including income disparities between rural and urban inhabitants, it states.
The report also calls on China to apply greater flexibility when determining the Chinese yuan's exchange rates with other currencies to keep inflationary pressures under control and also calls for a more appropriate monetary policy by Beijing.
It recommends that the Chinese government take measures to relocate workers from the farming sector to the manufacturing sector to help redress income disparities between rural and urban inhabitants.
The report also proposes that the Chinese government boost fiscal expenditures to enhance social security programs such as those for medical insurance and pensions.
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