EU, US refuses to grant China market economy status for the WTO

World Today

EU, US refuses to grant China market economy status for the WTO

China has filed a complaint at the World Trade Organization in Geneva after the European Union and United States didn’t grant it market economy status.

Market economy status means that your trading partners trust that your products are not being heavily subsidized to muscle out domestic competition.

CCTV’s Jack Parrock has the latest.
Follow Jack Parrock on Twitter @jackeparrock

EU, US refuses to grant China market economy status for the WTO

China has filed a complaint at the World Trade Organization in Geneva after the European Union and United States didn’t grant it market economy status. Market economy status means that your trading partners trust that your products are not being heavily subsidized to muscle out domestic competition. CCTV’s Jack Parrock has the latest.

China is not happy that the EU hasn’t granted it market economy status which would have seen tariffs and duties greatly reduced for Chinese exports into Europe.

When China joined the World Trade Organization 15 years ago, a provision was set to grant market economy status for China in the EU, the US and Japan in December 2016.

But the European Commission continues to be concerned about cheap steel coming from China and it’s currently looking at an alternate approach to trade deals with China.

The U.K., meanwhile, has been a supporter of opening up trade with China, and one British member of the European Parliament, Daniel Dalton, said the recent Brexit vote may spur opportunities in this regard.

The European Commission had originally been positive about the prospect of market economy status for China but the wave of anti-dumping cases regarding steel products – 16 in all – has meant the door has steadily been closed. A Commission spokesperson said it regrets China’s launching the WTO dispute.


Scott Kennedy on EU’s trade stance with China

To take a deeper look at EU’s decision not to grant China market economy status, CCTV America’s Rachelle Akuffo spoke with Scott Kennedy, director of the Project on Chinese Business and Political Economy at CSIS.


Scott Kennedy and Einar Tangen discusses China’s place in the WTO

China has launched a dispute resolution with the World Trade Organization, over who is grants market economy status for the country’s economy. To betterh understand the stakes of the resolution and what China is looking for, CCTV America’s Rachelle Akuffo spoke with Einar Tangen, current affairs commentator and Scott Kennedy, director of the Project on Chinese Business and Political Economy at CSIS.