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#1 Posted : 13 August 2018 02:49:08(UTC)
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BEIJING Steve Nash Jersey , Dec. 4 (Xinhua) -- The United States is throwing cold water on the growing geniality of trade relations between itself and China with its rebuke of the latter's bid for recognition as a market economy in the World Trade Organization (WTO).

The U.S. government recently formally opposed to China's bid, citing decades of legal precedent and what it sees as signs the country is moving in the opposite direction.

The truth is that denial of such status for China will give the U.S. government useful tools to launch trade probes into Chinese imports under the excuses of dumping goods at unfair price advantages.


The U.S. decision comes as the Trump administration is seeking to bridge the trade deficit with China for the so-called fair and balanced trade. To achieve that end, it is tempting to turn a blind eye to China's concrete moves of market liberalization, international observers said.

Since China has implemented the opening up and reform policy, it has made consistent efforts to improve its market economy system Seth Curry Jersey , which has won global recognition. The U.S. refusal distorts facts, according to a spokesperson for the Ministry of Commerce.

China is now the world's largest goods trading nation, being the top trading partner of more than 120 countries and regions.

Su Qingyi, a researcher with the Chinese Academy of Social Sciences, said the "non-market economy status" has not held China back from making those achievements.

The United States will not benefit from a battered bilateral trade relationship considering its interwoven interests with China. Protectionist measures also impair the interests of U.S. companies and consumers.

Over the past three decades Josh McRoberts Jersey , bilateral goods trade surged from 2.5 billion to 524.3 billion U.S. dollars. Low-cost and high-quality Chinese products have helped raise the living standard of Americans.

While much of the U.S. political campaign rhetoric focused on jobs leaving the United States, Chinese investment is supporting more jobs on that side of the Pacific.


In response to the U.S. rejection, Chinese commerce ministry official Wang Hejun said it undermines the seriousness and authority of multilateral rules.

Article 15 of the Protocol on China's accession to the WTO in 2001 has clearly dictated that China will automatically switch over to market economy status when the surrogate country approach expires in 15 years, which means, on that day Jose Juan Barea Jersey , the legal foundation for treating China as a non-market economy is gone.

The United States is setting a bad example by breaking international rules, Su said.

Honoring contracts is the basic principle of the market economy, and the United States is breaching this principle, said Bai Ming, a researcher with the Chinese Academy of International Trade and Economic Cooperation.

The U.S. rejection reflects its panic and ideological prejudice Jason Kidd Jersey , said Zhang Jingwei, a researcher with Chongyang Institute for Financial Studies under the Renmin University of China.

Analysts said that China is likely to take legal action at the WTO against members who are not observing the rules, including the United States. Further retaliatory trade measures may also be considered.

Even if an all-out trade war is avoidable, no party will emerge unscathed, Zhang said.

Only a natural disaster could force South Korea's Pyeong-chang to consider sharing -Winter Olympic events Harrison Barnes Jersey , the head of the 2018 organizing committee said Monday, moving to quell ongoing speculation some sports could be switched to other cities.

Cho Yang-ho told reporters that the International Olympic Committee (IOC) had no issues with Pyeongchang's preparations and talk of shifting events had arisen from misunderstandings and the media blowing issues out of proportion.

"It doesn't help our preparations to keep hearing about possibilities of splitting our Olympics," Yonhap news agency quoted Cho as saying.

Amid concerns that Pyeong-chang was falling behind schedule, the IOC has turned over more decision-making powers to an integrated working group of the IOC, international federations Dirk Nowitzki Jersey , central and regional governments and the Pyeongchang organizing committee.

International Ski Federation President Gian-Franco Kasper said last month it was "almost impossible" that ski and snowboard test events scheduled for next year would go ahead.

There had also been reports late last year that the luge and bobsleighskeleton events could be switched away from the South Korean alpine town.

The IOC has voted to -allow host cities to move events to other towns, or countries, breaking with the tradition of keeping the Games in one -location and fueling speculation Pyeongchang could take advantage of the change. However, Cho said he had made it clear to IOC chief Thomas Bach that venues were on schedule and Pyeongchang would be ready for the test events.

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#2 Posted : 01 May 2020 03:30:23(UTC)
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#3 Posted : 05 August 2020 14:10:30(UTC)
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#4 Posted : 24 December 2020 10:02:09(UTC)
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