The World Trade organization's ruling that European loans for Airbus wre illegal subsidies is being cheered by U.S. lawmakers loyal to the Boeing Co., even though the preliminary decision may seem quaint in a world where government subsidies, bailouts and takeovers are now commonplace.
Friday's ruling reflects the world as it existed five years ago when the United States brought the case against the European Union, arguing that such subsidies were unfair trading practices.
But since then, the deep global recession has led to hundreds of billions of dollars in government subsidies and intervention in nearly all the world's major economies, including big government ownership stakes in banks, and auto and insurance companies.
Furthermore, other countries, including China, Japan and Brazil, are busy expanding or developing their domestic airline industries.
At issue is a 1,000-page confidential ruling that was given to U.S. and European trade officials. It was not released yet, and officials were under instructions not to speak publicly. the ruling "confirms that Boeing has been competing on an uneven playing field for decades."
Friday's ruling reflects the world as it existed five years ago when the United States brought the case against the European Union, arguing that such subsidies were unfair trading practices.
But since then, the deep global recession has led to hundreds of billions of dollars in government subsidies and intervention in nearly all the world's major economies, including big government ownership stakes in banks, and auto and insurance companies.
Furthermore, other countries, including China, Japan and Brazil, are busy expanding or developing their domestic airline industries.
At issue is a 1,000-page confidential ruling that was given to U.S. and European trade officials. It was not released yet, and officials were under instructions not to speak publicly. the ruling "confirms that Boeing has been competing on an uneven playing field for decades."
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