The Chinese premier Li Qiang’s WTO Shake-Up 🚀
At the 80th United Nations General Assembly, the Chinese premier Li Qiang dropped a bombshell: "as a responsible major developing country, China will not seek new special and differential treatment in current and future WTO negotiations."
What’s SDT all about? Special and differential treatment is how the WTO helps smaller economies catch a break—lower tariffs, extra time to meet rules, and technical support. It’s like giving climbing gear to those climbing the economic ladder. 🧗♂️
China joined the WTO in 2001 and has enjoyed SDT for over 20 years. Today, it’s the world’s second-largest economy and biggest goods trader. Yet its per capita income of $12,720 in 2022 is still below the developed country threshold of $13,935—and just one-sixth of the U.S. rate. 📊
A bold U-turn, not a status drop
By forgoing new SDT requests, China signals it’s ready to play by tougher rules and push for WTO reform. This doesn’t change its legal developing status or existing rights. As Han Yong from the Ministry of Commerce says, China’s three unchanging positions are:
- It remains a developing member.
- It will defend developing members’ rights.
- It supports trade and investment liberalization.
For news enthusiasts, entrepreneurs, students, and explorers, this move could reshape global trade flows and open fresh doors for Latin American partnerships with China. Stay curious, stay informed! 🌍✨
Reference(s):
How vital is China's decision not to seek new special treatment at WTO
cgtn.com
