China Sets the Record Straight at WTO: No 'Overcapacity' Here! 🚀
China took center stage at the World Trade Organization (WTO) meeting on Friday, addressing concerns from some members about alleged \"overcapacity\" and \"economic coercion.\" 🎤💥
During the second meeting of the WTO's ninth trade policy review of China, the Chinese delegation didn't hold back in setting the record straight. They emphasized that China's policies are totally in line with WTO rules and that the success of Chinese companies is all about fair market competition, not government handouts. 🏆💼
China's Commitment to Global Growth 🌏
The representatives highlighted the recent third plenary session of the Communist Party of China's (CPC) 20th Central Committee, which wrapped up on July 18. The big takeaway? China is all in on deepening reforms, opening up more to the world, and pursuing high-quality development. This means fresh opportunities for everyone globally! 🌐🤝
Debunking the 'Overcapacity' Myth 🚫
Addressing the \"overcapacity\" claims, China made it clear that their booming new energy sector is actually helping the world transition to greener tech. With the planet pushing for sustainable solutions, there's no such thing as \"too much\" capacity in green energy! 🌿⚡
Standing Firm Against 'Economic Coercion' 👊
China also shot down accusations of \"economic coercion,\" stating that they've never engaged in such practices. In fact, they pointed fingers at some members who they say are the real culprits, using sanctions and restrictive measures that hinder fair trade. 🕵️♂️🚫
Open Dialogue on Key Issues 🗣️
In a spirit of transparency, the Chinese delegation tackled a bunch of topics head-on: from industrial policies and subsidies to cybersecurity and data flow. They laid out their policy goals, how things are going, and what's next on the horizon. 🚀📈
They also shared China's stance on helping least developed countries get better market access and supporting developing members. It's all part of working together for a fairer global trade system! 🌍🤗
Global Praise and a Look Ahead 🌟
Representatives from 71 WTO members chimed in during the review. Many gave China props for its reform achievements and its big contributions to the WTO. There's a shared excitement about boosting economic and trade ties with China, especially as the world looks to bounce back economically. 📣💪
Everyone's looking forward to China playing an even bigger role in global recovery, teaming up with developing nations, and keeping the multilateral trading system strong. Let's go! 🚀🌏
Reference(s):
China responds to WTO members' concerns, refutes 'overcapacity' claims
cgtn.com
