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Under Article 15 of the protocol by which China joined the WTO, China was recognized as a Non-market economy (NME). This status allows special treatment within the WTO. The status was set for 15 years and has been disputed after 2016, the year when the 15 years had passed. [23]
The requirement of an annual waiver was inconsistent with the rules of the World Trade Organization, and for the PRC to join the WTO, Congressional action was needed to grant permanent normal trade relations (PNTR) to China. [12] This was accomplished in 2000 with the United States–China Relations Act of 2000, allowing China to join WTO in 2001.
A new member of this type is the Republic of China (Taiwan), which acceded to the WTO in 2002, and carefully crafted its application by joining under the name "Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu (Chinese Taipei)" [19] [20] so that they were not rejected as a result of the One China principle implemented by the People ...
The economists Harry Dexter White (left) and John Maynard Keynes (right) at the Bretton Woods Conference in New Hampshire [27]. The WTO precursor, General Agreement on Tariffs and Trade (GATT), was established by a multilateral treaty of 23 countries in 1947 after the end of World War II, in the wake of other new multilateral institutions dedicated to international economic cooperation—such ...
December 11, 2001 - The People's Republic of China joins the WTO after 15 years of negotiations (the longest in GATT history). January 1, 2002 - Taiwan joins under the name "Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu".
China’s Ministry of Commerce said it would file a legal case against the United States at the World Trade Organization (WTO), in response to President Trump’s decision Saturday to impose 10 ...
On 10 November 2001, the Ministerial Conference of the World Trade Organization (WTO) in Doha approved China's entry into the WTO. [161] In November 1991, China joined the Asia-Pacific Economic Cooperation. The 1990s saw the peaceful Handover of Hong Kong and Macau by the United Kingdom and Portugal respectively to China. [162]
The EU should join forces with African countries to reform the World Trade Organization's (WTO) subsidy rules as a way to counter Chinese market distortions and diplomatic influence, the German ...