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China’s status as a developing country beyond any doubts

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The World Trade Organization’s mission is to promote the sustainable development of economies using multilateral trade rules. But the capacity of different economies is different when it comes to participating in multilateral trade negotiations and making multilateral trade rules. Also, since many economies may be unable or unwilling to participate in such negotiations or in the making of such rules, the multilateral trade system could be undermined.

Besides, whether an economy can benefit from the multilateral trade system depends on its own conditions including economic structure and technological level. Ignoring such differences among economies will result in unfairness, which would go against the original intention of the WTO.

Developing countries lag behind developed countries not only in production and income levels, but also in other economic spheres. Since the multilateral trade system acknowledges the differences in the development levels of different countries and regions, its aim is to promote the development of developing economies.

China's status as a developing country beyond any doubts

Source:

China Daily > China Daily News


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