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WTO needs to change how it designates developing countries: US

  • Category
    Economy
  • Published
    22nd Apr, 2020

The United States is asserting pressure on the World Trade Organization to change how it designates developing countries, singling out China for unfairly getting preferential treatment.

Context

The United States is asserting pressure on the World Trade Organization to change how it designates developing countries, singling out China for unfairly getting preferential treatment.

Background:

  • The United States, Europe and China have clashed over trade policy for several years and tensions could continue for decades without serious reform.
  • One of the most contentious points is the future of the World Trade Organization (WTO) — an intergovernmental institution that regulates international trade practices. 
  • The United States has called the WTO “broken,” saying countries such as China have taken advantage of it.
  • According to it, the WTO “has been very unfair to the United States for many, many years.
  • And without it, China wouldn’t be China, and China wouldn’t be where they are right now.”
  • The WTO needs to be updated, changed and reformed.
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