Beijing calls the refusal of the European Parliament to grant China market economy status non-constructive. The European Parliament has refused, for now, to grant China Market Economy Status in the World Trade Organization.
Many lawmakers there oppose it because they consider Chinese steel production a threat to European jobs.
China joined the World Trade Organization in 2001 with the belief it might be granted market economy status by the end of the year. For Europe’s second largest trading partner, membership would make it easier to export goods to the European Union’s 28-member bloc.
To take a further look at the negotiations:
- Xu Sitao, chief economist for the financial consulting group, Deloitte China
- Keyu Jin, professor of Economics at the London School of Economics
- Duncan Freeman, senior research fellow at the Brussels Diplomatic Academy and the Brussels Academy for Chinese and European Studies
- Phillip Le Corre, co-author of “China’s Offensive in Europe.”