Vietnam Urges US to Reclassify Economy
Recently, Vietnam has been pushing the US administration to reclassify it as a "market economy" to avoid high US taxes on its imports.
Non-Market Economy Classification
- Criteria: Includes currency convertibility, wage determination, foreign investment, state ownership of production, and resource allocation control.
- Implications: Allows the US to impose anti-dumping duties on imports from designated countries.
Vietnam’s Economic Reforms
- Progress: Vietnam has implemented economic reforms including allowing foreign investment and free wage negotiations.
- Argument: Vietnam contends that these reforms warrant a change in its status to a market economy.
Impact of Anti-Dumping Duties
- Calculation Method: US uses a third-country benchmark to assess the ....
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