China slams Europe over market economy status

China is criticizing a European Parliament resolution that refused to grant China market economy status. Chinese Foreign Minister Wang Yi said on Monday that China has offered a stable and reliable market and abundant jobs for the European Union. He said he hopes the EU can view China’s development in an objective way, respect World Trade Organization rules, and deliver on its WTO obligations. Under the WTO framework, the EU will have to abandon the use of the surrogate country system in anti-dumping investigations by the end of 2016. The system allows the importing WTO members to use a comparable third country when determining costs, and if Chinese producers can’t clearly show that, the market economy prevails. However, that term will expire at the end of this year.

Subscribe to us on Youtube:

Download for IOS:

Download for Android:

Follow us on:

Leave a Comment