Credit Card Cos. Seek Open Market In China

Law360, New York (March 26, 2010, 7:25 PM EDT) -- While trade relations between the U.S. and China continue to simmer, U.S. credit card companies have reportedly urged the federal government to pressure China to follow through on promises to open up the credit card market to foreign competition.

In Brussels to discuss trade issues with European Trade Commissioner Karel De Gucht, U.S. Trade Representative Ron Kirk said he was chary of filing a complaint at the World Trade Organization over the credit card companies’ inability to access China’s credit card market, estimated at roughly $1...
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