Speaking to Reuters
The Chinese ambassador to the WTO in a interview with Reuters says:
- US is attacking China's economic model to divert attention of the international community and ease the heat on itself
- US might have the illusion that such a tactic force China to bow down and accept a set of international rules that ties China's hands
- reform of the WTO needs to be carried out gradually and by all, not determined by a few to pursue their own interests
The US and EU yesterday put some pressure on China by:
- getting along and saying they are working on eliminating tariffs, and
- Joining forces on agreeing that the WTO needs to be revised
By doing this, they have a better chance of pressuring China to conform with "fairer" trade practices. China, relying more on an export led economy (and not domestic consumption model), is objecting.
