China has been sticking to the rules agreed when it joined the WTO in 2001, while the US is demonizing China by attacking its economic model to take the heat off itself, said Zhang Xiangchen, China’s envoy to the World Trade Organization?during the meeting of General Council of the WTO in Geneva on Thursday.
“The US is seeking to divert the attention of the international community and ease the heat on itself,” Zhang said, adding that the US has unsettled the world by launching a global trade war citing its domestic laws – Section 232 and 301, which has met strong oppositions from WTO members.?
In a paper presented by US Ambassador Dennis Shea to the WTO entitled “China’s trade-disruptive economic model” prior to the meeting, the US accused China of protectionist economic policies.?
Zhang said there is a lack of consistency in US criteria for evaluating other countries’ policies.
The US paper had misleadingly edited China’s official policy, cutting out references to the decisive role of the market in allocating resources, he noted.
According to Zhang, recognizing the decisive role of the market in allocating resources is the foundation for economic and trade exchanges between China and other WTO members.
“China’s state-owned enterprises are independent market entities responsible for their own profits or losses, and China does not have mandatory technology transfer regulations,” Zhang said.?
He reiterated that as a developing country, China has made contributions to the world, but still has a long way to go in achieving sufficient and balanced development.
