Photo: athena_vina via Flickr
The World Trade organisation just gave China an “A+” for its performance these past 10 years.The WTO Director-General Pascal Lamy commended China for its application of the WTO’s rules during his visit to Sichuan University according to China Daily. Although, Lamy does note that China has not applied the rules 100% of the time.
China, the U.S., and the WTO have frequently appeared in headlines over repeated trade disputes. The following are a few of the major trade disputes over the last two years:
- China’s solar subsidies
- Chine’s wind subsidies
- Chinese tariffs on U.S. poultry
- U.S. tariffs on Chinese tires
- U.S. tariffs on China’s solar
Regardless of these disputes, Lamy acknowledged that both China and the world have benefitted from China’s admittance into the WTO.
Lamy said “the result is a win-win situation where China has received a lot from international trade and other WTO members have also got a lot from the opening of China,” according to China Daily. He also went on to applaud Chinese factories such as Foxconn, and called China the heart of Asia’s factory.
While trade disputes are an ongoing problem, Lamy’s words will undoubtedly help promote Premier Wen Jiabao’s hope that all countries will open their markets and reject trade protectionism, especially in our current global economy.
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