CHINA has launched legal action against the EU and the US for failing to recognise it has a market economy.
The move is likely to fuel worsening relations, particularly with the US after President-elect Donald Trump has been engaging in a war of words with Beijing, criticising its military build-up in the South China Sea as well as pointing the finger over the country’s alleged failure to rein in North Korea.
China’s leaders have been seeking official market economy status with the World Trade Organisation.
Not only is it seen as a symbolic milestone in the transformation of the country’s economy, but it would also mean it was harder for other countries to hit the communist state with anti-dumping tariffs on it over cheap Chinese imports.
China had slapped a deadline of December 11 for the EU and the US to give Beijing a market economy, according to the terms of its agreement with the WTO.
Only one day after the expiry of the deadline, the WTO confirmed on Monday that China had launched a dispute resolution case against the EU and the U.S. in an instant riposte to their failure to change their anti-dumping methodology in time.
An EU spokesperson said: “We regret that China is launching this dispute now despite the fact that the Commission has already made a proposal to amend the legislation in question.
Commerce Minister Gao Hucheng said: “China’s lawful rights and interests must be maintained and the country reserves the right to take further action. Several WTO members have failed to fulfil their obligations.”
Full article: China declares WAR with EU and US: Beijing launches legal action against Juncker AND Trump (Express)