BEIJING: China on Thursday insisted it has “carried out every promise” made in joining the World Trade Organization as Washington and Brussels push Beijing to do away with protectionist policies.

Hitting back at critics like US President Donald Trump, China published a white paper titled “China and the World Trade Organisation” outlining reforms Beijing has undertaken since joining the agreement in 2001.

“There is not one WTO member that has economically suffered or lost out because China joined the WTO, this situation doesn’t exist,” said China’s vice commerce minister Wang Shouwen, at a press conference introducing the report.

The Trump administration has said the US erred in supporting China’s entry and has accused Beijing of not living up to pledges to carry out market-oriented reforms.

“China has steadfastly carried out every promise made upon entering the World Trade Organization,” Wang said, noting if some countries don’t agree “you can sue us at the WTO”.

China has only faced 41 suits at the supreme court of trade, Wang noted.

But critics say China has done a good job of intimidating firms and countries into not suing.

“You could say in the absolute most technical sense, they have fulfilled their obligation, but in reality no,” Christopher Balding, an economics professor at Shenzhen’s HSBC Business School.

Wang’s defence of Beijing’s business practices come amid mounting threats of a trade war with the United States.

US and EU officials often complain about Beijing’s intervention in markets, the large role of state-owned companies in the economy and protectionist industrial policies.

European Commission Vice President Jyrki Katainen said on a visit to Beijing this week that the issues should be tackled in an updated WTO agreement.

Katainen said the EU and China would establish a working group to handle reforming the trade organisation, but Brussels may find officials in Beijing less than welcoming.

“The level of government intervention in China’s economy is already extremely, extremely low,” Wang told reporters.

Balding called the claim “laughable” and China’s official state council transcript of the event ended up dropping the remarks.

Washington and Brussels have focused their concern on China’s lacking protection of intellectual property and the forced transfer of technology which some foreign firms say is required for market access.

“Accusing China of stealing intellectual property rights, and forcing technology transfer, this is fabrication, there is no factual basis to it,” Wang said.

Published in Dawn, June 29th, 2018

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Business concerns
Updated 26 Apr, 2024

Business concerns

There is no doubt that these issues are impeding a positive business clime, which is required to boost private investment and economic growth.
Musical chairs
26 Apr, 2024

Musical chairs

THE petitioners are quite helpless. Yet again, they are being expected to wait while the bench supposed to hear...
Global arms race
26 Apr, 2024

Global arms race

THE figure is staggering. According to the annual report of Sweden-based think tank Stockholm International Peace...
Digital growth
Updated 25 Apr, 2024

Digital growth

Democratising digital development will catalyse a rapid, if not immediate, improvement in human development indicators for the underserved segments of the Pakistani citizenry.
Nikah rights
25 Apr, 2024

Nikah rights

THE Supreme Court recently delivered a judgement championing the rights of women within a marriage. The ruling...
Campus crackdowns
25 Apr, 2024

Campus crackdowns

WHILE most Western governments have either been gladly facilitating Israel’s genocidal war in Gaza, or meekly...