ABSTRACT
In June 2016, the European Union (EU) launched a third case against China's restrictions on the export of raw materials essential for European industries. According to EU statistics, China is the world's largest producer of graphite. Within their original complaints, both the EU and the US have focused the terms associated with China's original accession into the World Trade Organization (WTO) in 2001. On a similar note in its own complaint, the European Union also cited China's WTO accession commitments along with other WTO rules. Both the EU and the US have very large populations and it's completely foolhardy to think that a combined population of over 830 million people can survive as a service economy as if combined they were both the size of Switzerland. Steel imports into the UK from the rest of the EU cost on average 897 Euros per ton, but steel imports from China into the UK are priced 583 Euros per ton.
