Radio Free Asia recently reported that December 11 is the 20th anniversary of China’s admission to the World Trade Organization (WTO). However, in the past two decades, the CCP has benefited and achieved rapid development, but it has not been able to fully fulfill its promises made at the time of its accession to the WTO.
The report counted CCP’s failure to upkeep its promises in various fields. In terms of economic policy, the first promise made by the CCP is to give the same treatment to Chinese companies, foreign companies and individuals in China. With regard to state-owned enterprises, the CCP promised not to directly or indirectly influence the commercial decisions of state-owned enterprises or state-invested enterprises. In terms of export subsidies, the CCP promises to abide by the WTO’s Agreement on Subsidies and Countervailing Measures(SCM Agreement), and to phase out subsidies that are inconsistent with the rules, including subsidies to state-owned enterprises. The report also pointed out that not only has the CCP broken its promises in the past, it is still persisting with its sly technique up to this moment. Just two months ago, U.S. Trade Representative Katherine Tai announced that the CCP had failed to fulfill its commitments made in the first phase of the U.S.-China trade agreement. At the same time, she also emphasized that the U.S. is holding the CCP authorities accountable. At present, the CCP’s credibility in the world is completely bankrupt. It will not be long till CCP is removed from WTO.
Translated by: MOS Education Team – Winsun