Wednesday, November 5, 2008

Recently Dumping was in news and World Trade organisation showed it concern over it what is 'Dumping'? well, Dumping’ refers to the act of transferring products from one country to another and selling it at a price, which is much below the selling price or cost of production of the home country. so the home country production gets affected and business community gets dissatisfied. this creates panic as this is not allowed by law in most of the countries.According to WTO (World Trade Organization), the first half of the current year witnessed a considerable increase in the instances of dumping and products being transferred across borders at unfair prices. The ‘number of investigations’ has jumped from 61 (in the first six months of last year) to 85 (in the present year) i.e. a 39% hike. Majority of the cases of introspections were related to dumping. Further study showed that 21 were from base metal sector, 20 from textiles and 10 from chemicals. Going by the nations, Turkey topped the list with recording 13 such scrutiny instances. The other countries are Argentina, India, United States and European nations like Australia, Brazil and Colombia.

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