The Trump administration has opposed China’s bid for recognition as a “market economy” in WTO citing legal precedents as well as a sign that the country is moving in an opposite direction under the tutelage of Xi Jinping. Market Economy status will make it more difficult for the US to defend it’s anti-dumping rulings against Chinese companies at WTO.
The move takes place during the time period when US has stepped up trade pressure on Beijing and there is a threat of growing international on Washington over what critics fear is a populism-fuelled attack on the global trading system.
If the US led impasse over appointments continue, the appellate body, which relies on three judge panels to hear cases, will have only three members- China, US and India. By the end of 2019, it will go down to one member, the one from China.
Read More at- https://www.cnbc.com/2017/11/30/us-formally-opposes-china-market-economy-status-at-wto.html
This post has been authored by Arnav Bose of West Bengal National University of Juridical Science.
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