On July 15, the World Trade Organization (WTO) Appellate Body's ruling on the China Fastener Appeal case attracted a lot of attention. In this ruling, the WTO finally ruled that China won the main litigation point in the fastener case, both in the expert group stage and in the appeal stage. This also became the first lawsuit against the EU anti-dumping case after China’s accession to the WTO. case.
But what is worrying is that although the anti-dumping case against the EU finally won, but in the past three years, Zhejiang fastener manufacturers have experienced a severe pain. At present, one-third of the enterprises in the fastener industry have been shut down or are in a state of suspension. One-third of the enterprises are in a state of loss, and only one-third of the enterprises can maintain a modest profit. China's fastener industry therefore loses 400 million euros in foreign exchange earnings every year and loses 800,000 jobs. Whether the transition is active or passive, Zhejiang enterprises have clearly realized that the transition is imminent.
As the largest manufacturing and exporting country in the global fastener industry, why is there no right to speak and no pricing power? Will similar anti-dumping come back?
The author believes that if the industry does not change the status quo, it is still possible to encounter anti-dumping again in the future. Recently, in Haixing County, Jiaxing, where carbon steel products are concentrated, the government has introduced an outline for the development of the fastener industry. At present, the demand for high-end fastener products and the demand for low-end fastener products in foreign markets are roughly equal, and the market share is still very large. Among them, the high-value-added products are the most competitive and very high, so for China's fastener companies. Industrial upgrading is imminent.
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