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China drops ‘developing country’ tag at WTO: What it means for India
In a major shift in policy, China has announced that it will no longer seek the special treatment reserved for developing countries under World Trade Organisation (WTO) agreements.
Speaking in New York while he was in the U.S. to attend the United Nations General Assembly, Chinese Premier Li Qiang declared that his country would no longer seek the special treatment given to developing countries in WTO agreements. Beijing said the decision aims to strengthen the global trading system amid rising protectionism and tariff wars. It noted is still part of the developing world, the move reflects…
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