Non-market economies Sample Clauses

Non-market economies and the analogue method The two methods mentioned in the previous section, exports to a third country and the constructed value method, solved the problem of unreliable normal values if the exporting country was a market economy. However, when member countries of GATT began trading with state-controlled or centrally- planned economies, the determination of the normal value became a more complicated problem. The prices of products under central planning did not reflect the true cost of production as understood in market economies. Selling prices of products in the home market of a centrally-planned economy (CPE) could therefore not be used to determine the normal value for those products. In addition, the unreliable cost information made it impossible to use the constructed value method to determine a normal value. Likewise, the export price to a third country was just as suspect as all the other prices and could also not be used to determine the normal value. Nevertheless, a workable alternative was found. The cost structure of a third economy, which was a market economy and was as similar as possible to the exporting country, was to be used to determine the normal value against which the exporting price could be compared (Corr 1997:81; Ehrenhaft 1990:305; Xxxxxxx & Xxxxxx 1989:14-18; Xxxxxxx & Xxxxxx 1984:808,819; Messerlin 1991: 47; Xxxxxxxxxx 1993:173; Xxxx 1996:113-114; Wang 1999:122). Many of the previous centrally-planned economies were classified as non-market economies (NMEs) when these countries began to change their economies to incorporate market principles. Although these counties were no longer centrally planned they were also not market economies. NMEs were treated in the same way as CPEs. Prices in these countries were still regarded as unreliable and so an analogue or surrogate country’s cost structure had to be used to determine the normal value in most anti-dumping actions against the NMEs. For example, the Basic Regulation of the EU29 assumes that when imports come from NMEs, the domestic (exporter’s) normal value is deemed to be unreliable. In such cases the normal value would be determined by actual or constructed prices in a “market economy third country”. Such a third country would be known as the reference or analogue country. If the Commission cannot find a suitable analogue country it may determine normal value “on any other reasonable basis” (Xxxx 1998:11). Although not many countries are still classified as non-market economies,...
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