The WTO still considers China a 'developing nation.' Here's the big problem with that [CNBC]
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Source: CNBC
VCG | Getty Images Two workers load steels products at a wharf in Yichang, Hubei Province of China. President Trump recently called out China for claiming the special privileges of a poor country, tweeting that China, which is a great economic power, is considered a Developing Nation within the World Trade Organization . They therefore get tremendous perks and advantages, especially over the U.S. Does anybody think this is fair[?] With a number of U.S.-China trade disputes simmering, this criticism from Trump seemed designed to justify his various tariff threats, on steel, aluminum and a wide range of other products. Like many of Trump's policy pronouncements, this one was clumsily framed and misleading, but had a grain of truth to it. If China is dominating the international economy, as you might conclude from headlines, why is it classified as developing and why does it get special treatment? The answer is fairly simple: When
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