South Korea granted China market economy status Wednesday, a move that would provide China greater shelter from anti-dumping duties. Korean president Roh Moo-hyun made the announcement during Hu state visit to Seoul, his first since taking office as China's president. The two countries were enemies until the early 1990s after China fought on the side of the North in the 1950-53 Korean War. Under the terms of China's 2001 accession to the World Trade Organization, member states can treat China as a "non-market economy" until 2016.
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