Home>Top Issues

U.S. Set to Review China’s Market-Economy Status Bid, WSJ Says

Monday,Apr 24, 2017

From: Bloomberg

 

The U.S. is preparing a review of China’s bid for market-economy status under the World Trade Organization, the Wall Street Journal reported.

The Trump administration appears ready to formalize China’s unfavorable status in trade cases, which means the country’s goods would be eligible for higher U.S. tariffs, the paper said, citing documents from the U.S. Commerce Department website. The review is expected to be announced as early as this week, it said.

The report comes as the leaders of the world’s largest economies prepare for their first meeting, which will set the tone for ties after U.S. President Donald Trump’s earlier threats to start a trade war with China and muddy economic affairs with geopolitics, including policies on Taiwan.

President Xi Jinping will meet with Trump April 6-7 at his Mar-a-Lago club in Florida, the official Xinhua News Agency reported Thursday, citing the foreign ministry.

The U.S. isn’t likely to grant China market-economy status in the review, according to He Weiwen, deputy director of the Beijing-based Center for China and Globalization(CCG), and a former business attache in the Chinese consulates of New York and San Francisco.

Doing so would go against Trump’s anti-China trade rhetoric, He said. Still, it’s possible the U.S. will keep the market-economy status as a bargaining chip in future talks.

China complained to the WTO late last year in a bid to force the U.S. and European Union to stop using example prices from other nations in anti-dumping probes on its goods, and followed in March with an effort to have a WTO dispute panel probe the matter. The U.S. review could be a response to that complaint, according to He.

Beijing said in its December complaint that WTO members were required to start treating it as a market economy from that month, the 15th anniversary of it joining the trade body. The Obama administration and the European Union declined to give China such status, and Beijing then filed a case against its two biggest trading partners with the organization.

From Bloomberg,2017-3-30

 

 

  • HK should tap bay area for development, says ex-finance chief

    Hong Kong should find ways to conduct “breakthrough” cooperation with mainland cities like Shenzhen and Zhuhai and work together to build Guangdong-Hong Kong-Macao Bay Area, said former finance chief Antony Leung Kam-chung at a round-table seminar held by think tank Center for China and Globalization (CCG) in Beijing.

  • Wang Huiyao: Think tanks as supplement to policymaking

    Chinese think tanks, be they State-sponsored or private, are inching forward in the global intellectual race. Nine of these made it to the world’s top 175 think-tank list prepared recently by the Lauder Institute of University of Pennsylvania. The university report says the United States has the largest number of think tanks (1,835) and China the second largest (435).

  • Is China ready to set global trade rules?

    Now China is seeking to match that economic might with a greater say over the rules underpinning the trading system, challenging the dominance of the United States and Europe.

  • CGTN | How China and the West differ in soft power play?

    Soft power comes in many forms. While the U.S. boasts Hollywood and world-class universities, China is catching up with the Belt and Road Initiative. However, soft economic power still lacks the appeal of mass media.

  • Li Weifeng: The future has come-AI in education and poverty alleviation

    The purpose of “education for poverty alleviation” is to enable all children to acquire the skills and knowledge to benefit their families and change their destinies.