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Developing countries in WTO
April 15 , 2020
1558 days
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- US president has asked for changing the WTO (World Trade Organization) rules for changing the developing country status of China.
- There are no WTO definitions of “developed” and “developing” countries.
- Members announce for themselves whether they are “developed” or “developing” countries.
- Generally countries are designated as developed, developing, and least developed countries (LDCs).
- However, other members can challenge the decision of a member to make use of provisions available to developing countries.
- Developing country status ensures special and differential treatment (S&DT).
- It allows them more time to implement agreements and commitments, to safeguard their trade interests, and to implement technical standards.
- China became a WTO member in 2001.
- By 2011, China became the second-largest economy in GDP terms, the first largest merchandise exporter, the fourth largest commercial services exporter and the first destination for inward FDI among developing countries.
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