Argentina to Limit Surging Imports of Chinese Goods
Seeking to protect local manufacturers and boost job creation, Argentine President Nestor Kirchner imposed new restrictions on surging Chinese imports. Kirchner said tighter controls on products such as electronics, automobile tires, bicycles and watches will benefit national industries and further cut unemployment. The measures will also include import licenses, registries and health and safety inspections. Victor Wang, head of China Trade, Investment & Tourism Center, SA in Buenos Aires claims the move is campaign posturing and could affect Chinese investment in Argentina, which had soared 73 percent in June from a year earlier.