China outraged after India bans all toy imports

[girl gone mad]

India has banned all imports of toys from China for six months, in the first major example of protectionism following the financial crisis.

The ban came amid growing global tensions about protectionism, with Europe and Canada warning the US about its determination to get consumers to buy American goods and wildcats strikes in the UK over the use of foreign workers.

State media reported that the Chinese government is likely to appeal to the World Trade Organisation to reverse the ban, which is the latest blow to China's beleaguered toy industry.

China makes three-quarters of the world's toys, but a combination of safety fears and the global slowdown has hit the sector hard. By the end of last year, the number of companies exporting toys from China had halved to just over 4,000. Tens of thousands of factories have been shuttered, according to toy trade associations in Hong Kong.

India imports around half of its toys from China and its market is worth around Pounds350 million a year. The Indian government gave no reason for the ban, although Raj Kumar, the president of the Toy Association of India, said politicians were acting in the interests of the economy and consumer safety.

In December, the Chinese government raised the export tax rebates for Chinese toys by 14 per cent in a bid to help manufacturers. According to Mr Kumar, the rebates put Indian toy manufacturers at an unfair disadvantage.

http://www.telegraph.co.uk/finance/financetopics/recession/4511451/China-outraged-after-India-bans-all-toy-imports.html

[ZombieHorde]

1. Interesting. I wonder if China will do anything. nt

[LakeSamish706]

2. If the US had been maned by anyone other than Bush, the US would have....

banned toys (and most other products) from China along time ago. If the the FDA had been working for the past 8 years, we would have never accepted the shit that China is putting out. As Keith Olberman has been saying, We have been Bushed.....

[Hydra]

3. Word

How many times do we have to be poisoned before we say "keep that stuff to yourself"?

Oh, wait. "Globalization is HOLY!"

We didn't have globalization 2000 years ago and we did fine.

[ConcernedCanuk]

4. India pissing off China - both have nukes - not good . . .

.
.
.

AND

They have over 30% of the planet's population

with Pakistan broiling (another 10%) also with nukes

and the USA over there with their nuke subs and so on

we are close to 50% of the population,

and considering Russia with it's nukes

almost 100% of nukes are in Asia

and tempers flaring

PNACers wet dream

frigadee . .

[Tandalayo_Scheisskopf]

5. Wasn't India moaning today...

About US protectionism regarding H1-B's and L-1's?

Interesting timing and whatnot.