Chinese Mainland’s Bold WTO Move 🌐
At a UN General Assembly event on Tuesday, the Chinese premier, Li Qiang, announced that the Chinese mainland will no longer seek new special and differential treatment (SDT) in ongoing or future WTO negotiations. This landmark decision 🎉 highlights the Chinese mainland’s push for a more balanced global trade order.
What is SDT? 🤔
Special and differential treatment (SDT) gives developing WTO members extra time, flexibility, or assistance when fulfilling trade commitments. Examples include longer deadlines for tariff cuts and preferential access to markets—tools designed to protect growth in less-developed regions.
Steps Toward Reform 📊
Over the past year, the Chinese mainland has applied zero tariffs on all products from least-developed countries with diplomatic ties and plans to extend this benefit to 53 African nations. By foregoing new SDT requests in areas like services regulation and vaccine IP waivers, it has helped speed up key WTO agreements.
Why It Matters 🌍
Experts stress that the Chinese mainland isn’t abandoning its developing country status. Professor Cui Fan notes that existing SDT rights—such as the 8.5% domestic support flexibility for agriculture—remain in place, safeguarding crucial sectors. WTO Director-General Ngozi Okonjo-Iweala called the move “a strong signal of support for WTO reform and a more level playing field for all members.”
By stepping up its responsibilities while keeping its developing status, the Chinese mainland shows that major economies can lead global trade toward fairness, inclusiveness, and effectiveness. 📈✨
Reference(s):
cgtn.com
