The EU is going after Chinese subsidies in Egypt
The EU is going after Chinese subsidies … in Egypt: European customs authorities will begin to register imports (pdf) of Chinese glass-fiber products made in Egypt ahead of possible anti-dumping duties. The move comes after European glass-fiber manufacturers complained last year (pdf) that Chinese company Jushi, which set up shop in the Suez Canal Economic Zone in 2012 and swiftly expanded after 2016, of using Chinese subsidies to dump in the European market.
The case also claims that the Egyptian government agreed with Beijing to provide subsidies to the company and that Chinese banks are providing cheap loans to Egyptian state-owned banks for the benefit of Chinese companies in Egypt.
EU authorities are confident they can take the case to the European courts and perhaps the World Trade Organization — but even if they don’t the case will set a precedent for clamping down on Chinese subsidies outside of China. The FT has more.