China Disagrees with U.S. Statements Criticizing Chinese WTO Membership
China defended itself on Jan 22nd after the Trump administration said last Friday that it was a mistake for the U.S. to engage China and Russia into the World Trade Organization (WTO) because these two nations failed to be market-based economies.
According to two reports by the U.S. trade representative sent to Congress on Jan 19th, China and Russia have made little progress in committing themselves to the principle of the WTO after joining the organization, and the global trade system is threatened by these two countries that do not intend to open their markets to trade and participate fairly.
Hua Chunying, the foreign ministry spokeswoman of China, said in a news briefing that China is strictly complying with WTO rules and making great contributions to the global trading system as a “defender” and “builder” of multilateral trade system.
Meanwhile, Hua accused the U.S. of threatening the stability of the international system by launching trade investigations against China under U.S. law instead of through the WTO.
“I think everyone has seen that it’s precisely the United States’ unilateralist methods, and the sounds it has made on unilateralism, that are an unprecedented challenge to the multilateral trade system,” said Hua.
China appealed that both the U.S. and China should safeguard the authority of the WTO rules as important members of the WTO. To do this, the United States should abandon its “Cold War mindset” and become more “rational” about the China-US relationship.
Economy and trade have become the main sources of tension between China and the U.S. under Trump administration. The two countries have disputes on a variety of agendas including the exchange rate of the Chinese currency, the market economy status of China, and the protection of intellectual property, etc.
Last week, in an interview with Reuters, the U.S. President Trump said that he was considering economic sanctions against China for forcing U.S. companies to unwillingly transfer their intellectual property to China as a cost of doing business in the Chinese market.
Given Trump administration’s growingly obtrusive approach to China and the latter’s unwillingness to comply, some analysts have expressed the concern over a trade war between U.S. and China in the near future.