China renounces developing country status at the World Trade Organization

apnews.com

China will no longer seek developing country status at the World Trade Organization, a change long demanded by the United States. This move aims to bolster the global trading system amidst threats from protectionism. The developing nation designation offers advantages like lower market opening requirements and longer implementation periods. The WTO director-general called the decision "major news key to WTO reform." China, while a middle-income country, continues to provide development assistance to other nations.


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