Dumping legislation denounced
AN American trade commissioner in Hongkong yesterday lashed out at anti-dumping laws.
''It would be nice if we didn't have the dumping laws. And we are moving in that direction,'' said Ms Anne Brunsdale, of the International Trade Commission (ITC), an independent agency which rules on dumping cases.
She noted the Organisation for Economic Co-operation and Development (OECD) has a study committee exploring the feasibility of replacing dumping laws with other policies.
Ms Brunsdale expressed concern over damages to world trade as an increasing number of countries implement their own anti-dumping laws.
''It is a problem with methodology [of implementation]. The US methodology is more rigorous than those of its trading partners,'' she said.
Hongkong-based US lawyer Simon Luk Chi-ming said the investigative method, set up more than 10 years ago, had grown outdated and could not cope with the present situation.
''When it was first decided, there was not so much trade going on and examining every transaction might not be cumbersome. But now trade volume has risen by leaps and bounds.''