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Shea described the United States as “one of the most open and competitive economies in the world”, with among the lowest tariffs globally, denying the U.S. approach was “unilateralist and protectionist”. China has pursued “non-market industrial policies and other unfair competitive practices” aimed at supporting its domestic industries while restricting or discriminating against foreign companies and their goods and services, he said cufflink post length uk online. “The WTO is not well equipped to handle the fundamental challenge posed by China, which continues to embrace a state-led, mercantilist approach to the economy and trade,” Shea said..
He did not refer to the dispute on steel which brought the two powers to the brink of a major trade war but defended the U.S cufflink post length uk online. “Section 301” investigation that found in March that Chinese practices related to technology transfer, intellectual property and innovation were discriminatory. On Section 301, Zhang said the U.S. measures vastly increased tariffs, “bringing back to life the ghost of unilateralism that has been dormant for decades”. Shea said the United States was committed to addressing concerns on WTO’s functioning, adding: “Reforms are necessary for the continued viability of the institution.”..
MILAN (Reuters) – An Italian judge said on Monday oil majors Eni (ENI.MI) and Royal Dutch Shell (RDSa.L) were fully aware their 2011 purchase of a Nigerian oilfield would result in corrupt payments to Nigerian politicians and officials. Italy’s Eni and Shell bought the OPL 245 offshore field for about $1.3 billion in a deal that spawned one of the industry’s largest corruption scandals. It is alleged that about $1.1 billion of the total was siphoned to agents and middlemen. The Milan judge made the comment in her written reasons for the September conviction of Nigerian Emeka Obi and Italian Gianluca Di Nardo, both middlemen in the OPL 245 deal, for corruption. The pair were jailed for four years cufflink post length uk online.
“The management of oil companies Eni and Shell .. were fully aware of the fact that part of the $1.092 billion paid would have been used to compensate Nigerian public officials who had a role in this matter and who were circling their prey like hungry sharks,” judge Giusy Barbara said in her reasoning cufflink post length uk online. “It was not mere connivance, but a conscious adhesion to a predatory project damaging the Nigerian state,” she added. She also said money was given to some managers of state-controlled Eni, the biggest foreign energy company in Africa..
“Things look even more serious from an Italian point of view with the involvement of the country’s leading company, in which the Italian state is the biggest shareholder, with obvious reputational damage for the whole Italian community,” she said. Obi and Di Nardo have been tried separately from Eni and Shell, which also face corruption allegations over the same deal in a hearing that is expected to drag on for months. Eni said it would analyze the judge’s remarks, noting that a fuller account of the facts and evidence surrounding the deal would emerge only from the main trial cufflink post length uk online.