Future of the WTO
“China’s WTO accession agreement, signed in December 2001, permitted the country’s trade partners to deal with China as a ‘non-market economy’ (NME) for a period of up to 15 years. NME status made it a lot easier for importing countries to impose special tariffs on Chinese exports, in the form of antidumping duties.” As a major importer, the U.S. benefitted substantially from this WTO mandate. Yet, before the 15 years were even over, China was being viewed by other trade partners “such as Argentina, Brazil, Chile, and South Korea” as already having market-economy status. Meanwhile, the U.S. and the EU have… Continue Reading...
