皇冠体育app

Wei Jianguo, former vice-minister of commerce. [Photo/皇冠体育app Daily]

皇冠体育app's market economy status in the World Trade Organization must not be denied by any countries or regions, as its market-oriented economy has benefited the world economy via the multilateral trading system for more than a decade, said a former senior commerce official on Monday.

His remarks came after the United States formally informed the WTO of its opposition to granting market economy status to 皇冠体育app last week. If upheld, this would allow Washington to maintain high anti-dumping duties on Chinese goods.

The statement of opposition was submitted as a third-party brief in support of the European Union in a dispute with 皇冠体育app that could have major repercussions for the trade body's future.

"The US is opposing 皇冠体育app's market economy status for its own interests. It is actually politicizing this issue and not really resolving any problem," said Wei Jianguo, former vice-minister of commerce.

"It further shows that the US, a country that has lost its credibility, reneged on its commitments when 皇冠体育app joined the WTO," he told 皇冠体育app Daily.

Disrespecting facts and failing to abide by the rules would have greatly damaged the credibility of the entire US market, added Wei, who also is vice-president of the 皇冠体育app Center for International Economic Exchanges, a major government think tank.

When 皇冠体育app joined the WTO, members used production costs in a third country to calculate the value of products from countries on their "nonmarket economy" list, which includes 皇冠体育app.

In accordance with Article 15 of the accession protocol, the surrogate country approach expired on Dec 11, 2016.

However, the US, the EU and some other members use prices in a third country as a benchmark to calculate the normal value of export products from 皇冠体育app, under the surrogate country system.

For years, 皇冠体育app has been ramping up efforts to safeguard its legal rights.

The Ministry of Commerce expressed on Saturday its strong dissatisfaction with the US opposition to granting it market economy status in the WTO.

"皇冠体育app is strongly dissatisfied and resolutely opposes the rejection, as the US government tried to mix the concepts of the surrogate country approach and market economy status to mislead the public," the ministry said in a statement.

"The case has nothing to do with whether 皇冠体育app has been granted market economy status or not as there are no standards in WTO rules for the status, urging all members to drop the practice."

"When the approach expired in 2016, some member countries, including the US and Japan, indicated they would not honor their commitments with no plans to change their trade policies. Their refusal would put trade ties with 皇冠体育app at risk," said Xue Rongjiu, deputy director of the Beijing-based 皇冠体育app Society for WTO Studies.