China Disapproves of US, Europe's Comments on WTO, Will Continue to Push for Globalization
Xu Wei
DATE:  Dec 14 2017
/ SOURCE:  Yicai
China Disapproves of US, Europe's Comments on WTO, Will Continue to Push for Globalization China Disapproves of US, Europe's Comments on WTO, Will Continue to Push for Globalization

(Yicai Global) Dec. 14 -- China disapproves of dismissing the World Trade Organization's role just because it does not meet the demands of some individual members, Gao Feng, spokesman for the Chinese Ministry of Commerce, said at a news briefing today.

The comment came in response to a reporter who noted that at the 11th WTO Ministerial Conference, the US and European Union criticized the organization's role and only China defended it. US Trade Representative Robert Lightizer said the WTO had lost its main focus and become an institution focused on litigations, while the EU trade commissioner said it was incapable of addressing its members' concerns, the journalist added.

With help from the US and other countries, the General Agreement on Tariffs and Trade became one of the three pillars of the post-war world economic system in 1947, Gao said. This became the WTO in 1995 with support from the US and Europe.

The multilateral trade system served as an irreplaceable mechanism to assure the recovery and development of the global economy after the war, and played a crucial role in promoting growth and curbing trade protectionism. Faced with the challenge of globalization, China still believes the WTO is integral to maintaining international trade order, he added.

China has been actively integrating with the global economy in an open manner since it began to reform. It became a member of the WTO in 2001 after 13 years of accession negotiations and has always cherished its membership status, been an active participant and a staunch defender of the system, Gao continued.

Nothing is perfect, he said. The WTO also needs to develop. China will remain steadfast in supporting the system which holds the WTO at its core. As a developing country, China will continue to overcome challenges and promote progress among multilateral trade negotiations. It will push for international trade liberalization and inject fresh momentum into the continued growth of the world economy, Gao added.

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Keywords:   WTO,Ministry of Commerce,US,EU,GLOBALIZATION,Trade Protectionism