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Is it possible for the US to evict China from WTO? [Copy link] 中文

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Post time 2018-11-23 15:52:32 |Display all floors
(Global Times) Kevin Hassett, one of US President Donald Trump's top economic advisers, suggested there could be a case for "evicting China" from the WTO, BBC reported. The US seems to want to mobilize its partners to besiege China in the WTO. But no threat can frighten China's government or its people. It would instead only make China grow stronger.

It is hard to imagine what the WTO would be without China. At the very least, the organization could not ensure that it is representative if it loses the world's largest trading country. Such a move would have a bad demonstration effect for other emerging economies and cause economic disarray around the world.

In 2001, China joined the WTO, which helped the country become the world's second-largest economy after the US.

The WTO has been a huge success for China, and the country's accession has also been an enormous success for the organization.

China fulfilled all requirements to join the WTO, actively opening up its economy to the world. It is estimated that the contribution of China's economic growth to the global economy will remain at roughly 30 percent.

China's opening-up and burgeoning middle class has brought fresh blood into the global economy and WTO reforms.

Talk of evicting China from the WTO is presumptuous and ridiculous. It would be a severe blow to the global economy if China were to leave the organization.

The US won't be able to do what Hassett has said. There is no need to take Washington's threat too seriously.

What lies behind Hassett's words is Washington's intent to create a tense atmosphere. Although most Americans are still optimistic about the US economy, a recent slide in the stock market has made some people anxious.

Washington may want to use populist sentiment to divert attention and seek scapegoats. China seems like an excellent target, giving Washington an excuse to plead not guilty. China will not be afraid of US threats and fall into the trap.

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Post time 2018-11-23 18:17:10 |Display all floors
It isn't even clear who is going to evict who.

It might even be that the U.S. will succeed in evicting itself if it keeps on dipping its dirty fingers into the collective pie that we have identified as the WTO.

It took 15 years of arduous negotiations for China just to enter into the WTO under rules and regulations largely established by the U.S. and its cronies, in comparison with the usual waiting period of 2-3 years before an applicant nation was admitted to the world trade body.

And now it wants to 'kick' China out after failing to keep its promise that China was to be listed as a Market Economy within 15 years after it joined the WTO.

This leads us to wonder who's actually wearing that golden shoe made for exactly that purpose -- kicking.

Who's illegally sanctioning both friends and foes by increasing its steel-and-aluminum tariffs on both?

Who's flaunting WTO rules especially in regards to bilateral trade on an equal footing without resorting to the use of physical violence?

There is an ancient Chinese saying admonishing those who tie the knot should also be the ones untying it.

Instead of trying to 'kick' China out of the WTO it is clear that the U.S. needs to understand that it might end up as the one being kicked for non-payment of membership fees.

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Post time 2018-11-23 18:26:50 |Display all floors
wchao37 Post time: 2018-11-23 18:17
It isn't even clear who is going to evict who.

It might even be that the U.S. will succeed in evict ...

re: " the U.S. needs to understand that it might end up as the one being kicked for non-payment of membership fees."

Indeed, rather Uncle Sam will get the boot, Not the Middle Kingdom...

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Post time 2018-11-23 19:36:25 |Display all floors
emanreus Post time: 2018-11-23 18:26
re: " the U.S. needs to understand that it might end up as the one being kicked for non-payment of ...

You said it, emanreus.

Like what the lion said, "Great minds think alike."

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Post time 2018-11-23 19:43:26 |Display all floors
I think eventually the U.N. Headquarters will be relocated to the newly-built Xiongan District in Hebei Province.

The U.S. is too poor to pay its accumulating debts to the UN including the dues, and too dishonest to honor its international obligations, and yet still wants to be the world leader.

That is a pipedream that cannot be realized.

Either it goes back to all those international institutions from which Donald has withdrawn this year, or it can thumb its nose at the rest the world and withdraw further into its own cocoon.

Which is which?

It can't have both.

So Xiongan is where the UN should and will go.

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Post time 2018-11-25 21:54:07 |Display all floors
wchao37 Post time: 2018-11-23 19:43
I think eventually the U.N. Headquarters will be relocated to the newly-built Xiongan District in He ...

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