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Last week, the World Trade Organization conducted its ninth review of the trade policies and practices of China. The basis for the review is a report by the WTO Secretariat.
In his frank remarks concerning the WTO review, Assistant U.S. Trade Representative and Deputy Chief of Mission in Geneva, David Bisbee stated:
The People’s Republic of China is not the only WTO Member that still operates a non-market economy. There are a few others. But what sets the PRC apart from them is that Beijing operates its non-market economy in a “predatory” manner. That is, because of the size of its economy and the volume of its trade, the PRC is uniquely positioned to be able to use its state-directed approach to the economy to eliminate foreign competition and amass market power.
Through state-led industrial plans like Made in China 2025, the PRC targets key industries for domination, both in the PRC-based market and globally, and the full weight of the PRC state is deployed in support of this goal of domination. It means that foreign companies are not competing against individual PRC companies; they are competing against the PRC state and PRC companies acting in concert.
Read Mr. Bisbee’s full remarks.
