China said that it will refuse to give up its title as a developing nation at the World Trade Organization (WTO), in a rebuke to a US proposal to pare back the trade privileges China currently enjoys, said the South China Morning Post.
China’s categorization as a developing country at the WTO affords it different treatment from developed countries, allowing China to provide subsidies in agriculture and set higher barriers to market entry than more developed economies.
Commerce ministry spokesman, Gao Feng, said in a press conference that China would stand by its decision, even as Brazil has agreed to forgo the status in exchange for US support in joining the Organization for Economic Co-operation and Development, an influential intergovernmental economic organization with 36 member countries.
“China’s position on WTO reform has been very clear. China is the largest developing country in the world,” Gao said. He added,“We do not shy away from our international responsibilities and are willing to assume obligations in the WTO that are compatible with our own economic development level and capabilities.