The Fort Worth Press - China has expanded statist economic policies over 20 years in WTO: US

USD -
AED 3.67295
AFN 69.341529
ALL 89.034836
AMD 387.423953
ANG 1.803813
AOA 928.49797
ARS 962.745803
AUD 1.465765
AWG 1.8
AZN 1.686299
BAM 1.752415
BBD 2.020823
BDT 119.608265
BGN 1.760945
BHD 0.37684
BIF 2901.136119
BMD 1
BND 1.29238
BOB 6.916171
BRL 5.425803
BSD 1.000914
BTN 83.716457
BWP 13.169307
BYN 3.275482
BYR 19600
BZD 2.017409
CAD 1.355702
CDF 2871.000223
CHF 0.846085
CLF 0.033735
CLP 930.859883
CNY 7.043805
CNH 7.04009
COP 4165.25
CRC 518.478699
CUC 1
CUP 26.5
CVE 98.795796
CZK 22.463202
DJF 178.230951
DKK 6.6777
DOP 60.08153
DZD 132.218671
EGP 48.522978
ERN 15
ETB 115.187488
EUR 0.895195
FJD 2.19785
FKP 0.761559
GBP 0.75097
GEL 2.730499
GGP 0.761559
GHS 15.764174
GIP 0.761559
GMD 68.50286
GNF 8648.20307
GTQ 7.736831
GYD 209.357752
HKD 7.789925
HNL 24.828192
HRK 6.799011
HTG 131.899147
HUF 352.875009
IDR 15091.75
ILS 3.754425
IMP 0.761559
INR 83.499198
IQD 1311.118478
IRR 42092.497584
ISK 136.380292
JEP 0.761559
JMD 157.248201
JOD 0.708704
JPY 142.174497
KES 129.110039
KGS 84.275002
KHR 4062.396402
KMF 441.350247
KPW 899.999433
KRW 1329.69499
KWD 0.30483
KYD 0.834087
KZT 479.369574
LAK 22100.764289
LBP 89627.804458
LKR 304.66727
LRD 200.173823
LSL 17.438602
LTL 2.95274
LVL 0.60489
LYD 4.767579
MAD 9.706293
MDL 17.46575
MGA 4509.533367
MKD 55.207111
MMK 3247.960992
MNT 3397.999955
MOP 8.03489
MRU 39.619734
MUR 45.880376
MVR 15.35985
MWK 1735.530896
MXN 19.29877
MYR 4.181998
MZN 63.850036
NAD 17.438602
NGN 1639.929757
NIO 36.834607
NOK 10.478879
NPR 133.938987
NZD 1.59928
OMR 0.384957
PAB 1.000914
PEN 3.75751
PGK 3.973765
PHP 55.437973
PKR 278.366694
PLN 3.826945
PYG 7813.059996
QAR 3.648899
RON 4.452967
RSD 104.815027
RUB 92.599635
RWF 1347.932048
SAR 3.752598
SBD 8.306937
SCR 13.337979
SDG 601.500967
SEK 10.15303
SGD 1.288698
SHP 0.761559
SLE 22.847303
SLL 20969.494858
SOS 572.007132
SRD 29.853
STD 20697.981008
SVC 8.757515
SYP 2512.529936
SZL 17.425274
THB 33.0735
TJS 10.639297
TMT 3.5
TND 3.031476
TOP 2.342097
TRY 34.083801
TTD 6.803337
TWD 31.931013
TZS 2723.701993
UAH 41.476059
UGX 3716.579457
UYU 41.116756
UZS 12750.992321
VEF 3622552.534434
VES 36.755452
VND 24540
VUV 118.722009
WST 2.797463
XAF 587.732958
XAG 0.032076
XAU 0.000385
XCD 2.70255
XDR 0.741793
XOF 587.732958
XPF 106.857097
YER 250.324975
ZAR 17.49145
ZMK 9001.200733
ZMW 26.047299
ZWL 321.999592
  • RIO

    2.2700

    65.18

    +3.48%

  • CMSC

    0.0650

    25.12

    +0.26%

  • BCC

    7.6300

    144.69

    +5.27%

  • CMSD

    0.0300

    25.01

    +0.12%

  • BCE

    -0.4200

    35.19

    -1.19%

  • JRI

    -0.0400

    13.4

    -0.3%

  • SCS

    -0.8000

    13.31

    -6.01%

  • RBGPF

    60.5000

    60.5

    +100%

  • RELX

    0.7600

    48.13

    +1.58%

  • BTI

    -0.3100

    37.57

    -0.83%

  • NGG

    -1.2200

    68.83

    -1.77%

  • RYCEF

    -0.0200

    6.93

    -0.29%

  • GSK

    -0.8100

    41.62

    -1.95%

  • VOD

    -0.1700

    10.06

    -1.69%

  • BP

    0.3300

    32.76

    +1.01%

  • AZN

    0.3200

    78.9

    +0.41%

China has expanded statist economic policies over 20 years in WTO: US
China has expanded statist economic policies over 20 years in WTO: US

China has expanded statist economic policies over 20 years in WTO: US

China has not adopted the rules of the World Trade Organization even after 20 years' membership, the United States said Wednesday, adding that the world's second-biggest economy had "retained and expanded" its statist approach to the detriment of businesses and workers globally.

Text size:

"China also has a long history of violating, disregarding and circumventing WTO rules to achieve its industrial policy objectives," said an annual report to Congress by the office of the US Trade Representative (USTR) Ambassador Katherine Tai, laying out the Biden administration's assessment of China's WTO membership.

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.

"China has instead retained and expanded its state-led, non-market approach to the economy and trade," she said.

"It is clear that in pursuing that approach, China's policies and practices challenge the premise of the WTO's rules and cause serious harm to workers and businesses around the world, particularly in industries targeted by China's industrial plans."

The United States has long denounced Chinese practices, such as its subsidies for public companies.

Beijing is also accused of stealing intellectual property and forcibly transferring know-how and technology from foreign companies in exchange for market access.

These were among practices cited by former US president Donald Trump when he launched a trade war against China in 2018 with punitive customs duties.

The USTR noted Wednesday that the United States had also pushed China to comply with the standards in bilateral discussions.

However, the 72-page report pointed to only "isolated" progress and lamented that China's commitments to fundamentally change its approach had not borne fruit.

Its commitments in January 2020, part of phase one of the bilateral treaty concluded with Trump, have not been respected either, it said.

"China has not yet implemented some of the more significant commitments that it made in the Phase One Agreement, such as commitments in the area of agricultural biotechnology," the report details.

It is also far from having met its commitments to purchase American goods and services in 2020 and 2021.

Further, "the reality is that this Agreement did not meaningfully address the more fundamental concerns that the United States has with China's state-led, non-market policies and practices and their harmful impact on the U.S. economy and U.S. workers and businesses," the report added.

Among the sectors affected by China's practices deemed unfair, Washington cites steel, aluminum, solar energy and fishing.

The USTR stressed that the United States was pursuing "a multi-faceted strategic approach" by abandoning neither dialogue nor possible retaliatory measures.

"China is an important trading partner, and every avenue for obtaining real change in its economic and trade regime must be utilized," it said.

Finally, it added that if China "fully" implemented the 2020 agreement, it would lay a more solid foundation for tackling the unresolved issues.

F.Carrillo--TFWP