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World Trade Organization names Brazilian as new chief

May 8, 2013 08:49
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Roberto Azevedo, a top Brazilian trade diplomat, will replace Pascal Lamy as the head of the WTO in September, the Brazilian government said.

WTO ruling says Boeing got five billion in illegal subsidies

March 12, 2012 19:03
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The WTO found that Seattle-based Boeing had received $5.3 billion in illegal subsidies over the last 25 years, a figure that was far less than its European rival Airbus.
February 1, 2012 13:16

Should China change international trade rules?

Global Times says China should reconsider its attitude toward the WTO and global trade practices.
China world trade organizationEnlarge
China, which marks the 10th anniversary of its accession to the World Trade Organization on Dec. 11, has seen its GDP almost quadruple over the past decade, and exports and imports rise nearly fivefold. Here, a Chinese man dressed as a mythical figure hands out discount coupons to a tourist in Beijing. (Mark Ralston/AFP/Getty Images)
this story is part of globalpost's continuing coverage of world business. for more visit our new business page.

The World Trade Organization's latest ruling against China drew a typical response from China's Ministry of Commerce, but a somewhat more intriguing one from one of the country's main patriotic newspapers.

While official China said it "regretted" the WTO's ruling on its exports of nine different types of raw materials, the Global Times said in an editorial on Wednesday that maybe China shouldn't be following all the rules.

Whether China does follow the rules is up for debate, a topic that even US President Barack Obama has addressed in calling for trade partners to act like grown-ups. International companies in China have complained that this country falls far short of meeting the promises it made to get in the WTO 10 years ago. In some cases, China may be backsliding on those pledges.

More from GlobalPost: China loses WTO appeal on raw materials

But according to the Global Times, China should reconsider its attitude toward the WTO and global trade practices. The editorial says:

"China has generally been following WTO regulations and rulings. But it should find the best balance between applying WTO rules and protecting its national interests. Getting approval from the West is not our top concern. Admittedly, joining the WTO has boosted China's rise. However, entry was granted at the cost of China accepting some unfair terms, from which the aftereffects have gradually emerged, including this ruling. They may become a hidden problem for China's economy."

"The latest WTO ruling has highlighted the urgency of amending some of the unfair terms of The Protocol of China's Entry into the WTO. It is also necessary to express China's dissatisfaction and garner public support for the revision."

More from GlobalPost: China and the WTO, 10 years later

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December 12, 2011 12:02

China: WTO 10th anniversary

China marks decade in World Trade Organization.
China world trade organizationEnlarge
China, which marks the 10th anniversary of its accession to the World Trade Organization on Dec. 11, has seen its GDP almost quadruple over the past decade, and exports and imports rise nearly fivefold. Here, a Chinese man dressed as a mythical figure hands out discount coupons to a tourist in Beijing. (Mark Ralston/AFP/Getty Images)
this story is part of globalpost's continuing coverage of world business. for more visit our new business page.

China is rejoicing in its 10th anniversary as a member of the World Trade Organization, but its trade partners aren't exactly celebrating.

In recent comments, officials from both the United States and European Union have been critical of China as a global trade partner.

The US envoy to the WTO even said China is backsliding on commitments it made when it joined the organization and that China has much work to do to be an equal partner. Others have begun noting that China's economic ascent has come hand-in-hand with its WTO membership.

Video from GlobalPost: China's small-business woes 

In a commentary published Monday in the official China Daily newspaper, Pascal Lamy, director of the WTO, said China's rise has come hand-in-hand with its WTO membership.

"This is not to suggest that China's success is entirely due to WTO accession," Lamy wrote.

"But WTO membership helped the Chinese government to anchor the reform and opening-up initiated by former leader Deng Xiaoping by binding China into the global trading system. These reforms improved the efficiency of the Chinese economy and boosted growth."

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