The EU just looked into the potential for dumping. They were not finished with the process and therefore did not punish CRRC at all.

Also China is not that poor. GDP per capita is only a third less then that of Romania.

@honey_im_meat_grinding

The EU's relevant rule here closes gap in the review of government support for companies doing business in the EU. While aid granted by EU states must comply with the EU’s rules, there has been no comprehensive EU mechanism preventing subsidies granted by non-EU countries from providing an unfair advantage to companies doing business in the EU’s internal market. The rule does not prohibit foreign subsidies per se, though, but it does prohibit, for example, that companies benefit from from zero-interest loans or below-cost financing.

The Net Resource Transfers from developing to developed countries are a much greater issue. The largest part of capital outflows from developing countries can be traced back to (often illegal) capital flight. For example, many corporations (from developed and developing countries alike) show false prices on their trade invoices to get money out of developing countries into tax havens. Or corporations transfer money from developing countries by shifting profits between two subsidiaries. For example, a subsidiary in country A might avoid local taxes by transfering money to a subsidiary in country B - a tax haven, where the tax rate is zero.

The beneficiaries of all this are large corporations and an often corrupted political elite.

To solve the Net Resource Transfer problem, we need to shut down the dozens of global tax havens which just a small global financial elite (of which most, though not all, are located in the West) is benefiting from.

The EU's rule to protect its internal market has a minimal effect on the NRT. This is essentially a different issue.

Sorry for the long post.

Indeed. Seems like EU is dead set on joining the US economic war on China.