28 August 2005

Bra wars

Much fuss in Scotland on Sunday (here):
EU TRADE Commissioner Peter Mandelson was caught in a furious row last night over his three-week Italian holiday during the "bra wars" trade conflict which is causing a major rift with China.
Pictures emerged of Mandelson, the former Labour spin doctor and confidant of Tony Blair, enjoying a night at the opera in Pompeii with his Brazilian boyfriend Reinaldo da Silva.
The images, and details of the couple's break, prompted retail representatives in the UK and
Tory trade spokesmen to claim the controversial commissioner was not doing enough to end the trade crisis that has left more than 80 million Chinese products impounded at European ports.
The row broke out as it emerged that the conflict with China was threatening to erupt into a full-scale trade war that could send high street prices soaring. Brussels is considering putting new restrictions on a range of further goods from the fast-growing economic power.

I think you will find that the EU negotiating team that has been in Beijing since last Thursday will come up with a deal with the Chinese authorities, either tomorrow or Tuesday. Then we can forget about international textiles trading until the next "furious row".

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