Reported 5 months ago
The World Trade Organization (WTO) released a review report on China, pointing out that Beijing's subsidy measures in industrial policies, such as support for electric vehicles and steel industries, are non-transparent. This could lead other WTO members to continue to see China as having excess manufacturing capacity and dumping products in other countries. The report raised concerns about lack of transparency in China's support policies across various industries from semiconductors to shipbuilding. Several Western countries including the US, Australia, UK, and EU seized this opportunity to criticize China's industrial policies, with the US accusing Beijing of damaging other countries with its 'predatory' industrial policies. China claims to operate according to market principles and previously stated they never used subsidies prohibited by WTO rules for electric vehicles. However, the EU representative at the WTO mentioned that China should no longer benefit from the 'developing country' treatment within the WTO, considering China's increased wealth.
Source: YAHOO