Geneva:
China promised the World Trade Organization on Wednesday that it would further open up its vast market, but the United States quickly retorted that Beijing showed “no desire to change.”
Beijing made the commitments during a WTO review of China’s trade practices, an exercise held behind closed doors to which all 164 members of the world trade body regularly submit.
In a report released by the WTO, China proposed accelerating efforts to foster “a new paradigm of development” – a strategy in which domestic and international markets are mutually reinforcing, with the domestic market “being the pillar.”
“By fully exploiting the potential of domestic demand, the new development paradigm serves to better connect national and international markets, makes better use of international and national markets and resources, and achieves stronger and more sustainable development.”
Beijing estimates that the large potential market for domestic demand among China’s 1.4 billion people would be “fully released” by the plan.
China has consistently pledged to further open its market over the years, but its business practices are frequently criticized.
Beijing is waging a trade war with Washington over accusations it is not playing fair.
Beijing also faces battles with Australia at the WTO. Canberra is challenging China’s barley tariffs and has opposed sanctions on a range of other products.
Australia last month asked the WTO to rule against China’s imposition of crippling tariffs on Australian wine exports.
In the report, China said it wanted to implement a “more proactive import policy” and continue its pilot zones and free trade ports.
As for the climate crisis, the document reaffirms that China will strive to achieve peak carbon dioxide emissions by 2030 and carbon neutrality by 2060.
The last review of Chinese trade policies dates back to 2018. The United States, under President Donald Trump, questioned China’s legitimacy in the WTO, accusing Beijing of not opening up its market sufficiently.
Responding to the review, David Bisbee, charge d’affaires at the U.S. Permanent Mission to the WTO, said expectations that China would adopt open, market-oriented policies have not been raised. carried out.
“It seems that China has no desire to change,” he said.
“Instead, China has used the imprimatur of WTO membership to become the WTO’s largest trader, while doubling down on its state-led, non-market approach to trade, to the detriment workers and businesses in the United States and other countries.
“Our most fundamental concerns about China’s trade regime remain unanswered.”
(This story was not edited by NDTV staff and is auto-generated from a syndicated feed.)