China to relinquish WTO privileges in show of support for multilateral trade
Premier Li Qiang says Beijing will not seek developing country benefits in future WTO negotiations, drawing implicit contrast with US
“China, as a responsible major developing country, will not seek new special and differential treatment in the current and future negotiations of the WTO,” said Premier Li Qiang on Tuesday during the 80th session of the United Nations General Assembly in New York.
Without naming specific countries, Li said on the sidelines of the assembly that the trend of a multipolar world and globalisation was irreversible, and the pursuit of decoupling would only harm the global economy and undermine international order.
“We should work together to uphold the international system with the UN at its core, adhere to multilateralism and free trade, strive to build an open world economy, and achieve more dynamic global development.”
Ngozi Okonjo-Iweala, director general of the Geneva-based organization, described the move as “major news” that was “key to WTO reform” in a social media post thanking China’s leaders.
“This is a culmination of many years of hard work.”