Beijing: Beijing on Thursday dismissed the United States’ assessment of China’s World Trade Organization membership, saying its criticism had “no basis in international economic and trade rules”.
The commerce ministry’s retort came a day after Washington said China, 20 years after its accession, had not adopted the rules of the WTO, retaining and expanding its state-led approach, to the detriment of businesses and workers globally.
Commerce ministry spokesman Gao Feng noted that the US labeled China as non-market-oriented, but added that “these remarks have no basis according to international economic and trade rules, and are completely inconsistent with the facts”.
He also urged the US to ensure its trade tools “comply with WTO rules instead of waging unilateralism, protectionism, and bullying in the name of seeking a new strategy”. Gao said China hoped the US would “adopt rational and pragmatic economic and trade policies toward China”.
Based in Geneva, Switzerland, the WTO works to enforce rules governing international trade, including promoting fair competition and open trade.
When it joined in December 2001, Beijing said it would embrace those principles, Tai said but added that China has since widened its state-led, non-market approach to the economy and trade.
The 100-Index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Friday, gaining…
Members of the Sarhad Chamber of Commerce and Industry (SCCI) Executive Committee on Friday demanded…
The price of 24 karat per tola gold increased by Rs.1,300 and was sold at…
The weekly inflation, measured by the Sensitive Price Indicator (SPI), went up by 0.55 percent…
The Pakistani rupee on Friday appreciated by 08 paisa against the US dollar in the…
Federal Minister for Commerce Jam Kamal Khan on Friday pledged support for textiles and apparel…
Leave a Comment