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China accuses West of protectionism and double standards in its WTO bid
CHINA's battle for recognition as a market economy, which would help it avoid penalties from key trade partners, has been thwarted, as a key clause in Beijing's deal to join the World Trade Organisation (WTO) expired last Sunday.
As China marks the 15th anniversary of its accession to the WTO, the United States, the European Union and Japan are maintaining tough rules that protect them from cheap Chinese products flooding their markets.
An outraged Beijing said the failure of its major trade partners to grant China market economy status on December 11 as promised was an example of "covert protectionism" and "double standards" by the West, Hong Kong's SCMP reported.
When China joined the WTO on December 11, 2001, it was written into the terms of the deal that member states could treat it as a non-market economy, allowing them to impose heavy anti-dumping duties on the basis that its low prices did not reflect market reality.
China was told that would change by the end of 2016 when it would be upgraded to market economy status.
"China will take steps to defend its rights if (WTO) members continue this old practice of anti-dumping regulation against Chinese products after the expiration date" of the accession agreement clause, China's commerce ministry spokesman Shen Danyang was quoted as saying by state media.
International trade experts say China will have to start a lengthy legal battle at the WTO against its trade partners in order to get recognition of its market economy status.
As China marks the 15th anniversary of its accession to the WTO, the United States, the European Union and Japan are maintaining tough rules that protect them from cheap Chinese products flooding their markets.
An outraged Beijing said the failure of its major trade partners to grant China market economy status on December 11 as promised was an example of "covert protectionism" and "double standards" by the West, Hong Kong's SCMP reported.
When China joined the WTO on December 11, 2001, it was written into the terms of the deal that member states could treat it as a non-market economy, allowing them to impose heavy anti-dumping duties on the basis that its low prices did not reflect market reality.
China was told that would change by the end of 2016 when it would be upgraded to market economy status.
"China will take steps to defend its rights if (WTO) members continue this old practice of anti-dumping regulation against Chinese products after the expiration date" of the accession agreement clause, China's commerce ministry spokesman Shen Danyang was quoted as saying by state media.
International trade experts say China will have to start a lengthy legal battle at the WTO against its trade partners in order to get recognition of its market economy status.
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