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The US House bill to challenge China's "developing country" status is a sign of national insecurity and political showboating which is unlikely to succeed, due to a lack of consensus on the issue within the WTO, experts told Sputnik.
The House passed the PRC Is Not a Developing Country Act on Monday to strip China's designation as a "developing country" in international organizations like the WTO.
Shafaq News/ The US House of Representatives has unanimously passed a bill to work towards stripping China of the label of a "developing country" in international organizations and agreements. The "P
US-led institutions granted China “developing country” status in the late 1990s and early 2000s, allowing the country to take advantage of certain perks, such as the right to apply higher tariffs, reduced responsibilities on climate change, and lower interest loans. In recent years, Beijing has voluntarily agreed to give up many of these benefits.
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