De facto ECA subsidies for exporters raise concerns

(Financial Times, Washington, 28 October 2012) Amid subsidy battles between big economies, one front is usually relatively quiet: the export credits that states extend to foreign buyers to finance purchases from their own country... But the rise of trading powers such as China has disturbed the peace... “There is no epidemic of loosening export credit standards among OECD members,” says Steven Tvardek of the OECD, “but there is a debate about how to deal with de facto export credit subsidies from some of the big emerging markets.”