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Between Market Economy and State Capitalism Published online by Cambridge University Press: 10 November 2022
Chapter 4 explores the utility of different WTO rules in disciplining market-distortive behaviour of SOEs and subsidies, including GATT rules on import monopolies, state trading enterprises (STEs), transparency, and anti-dumping (AD) measures. In our view, these rules are all of limited utilities, albeit for different reasons: the rules on import monopolies and STEs are quite narrow in terms of the coverage of policy instruments and the prescribed obligations, the transparency obligation is rather tooth-less, while the ability to use AD measures to deal with market distortions due to state intervention has been curtailed by the Appellate Body (AB) in recent cases.
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