US Protests Against Developing Country Status for India
In July, 2019 US asked the WTO to rethink its classification of developing countries (which can avail of special trade protections). It threatened to pull out from the WTO if the trade body does not treat the US fairly.
US’ concerns
- US targeted India and China in particular for “taking advantage” of the US by classifying themselves as “developing countries” at the WTO.
- Even many rich economies are claiming to be “growing” rather than “grown” economies. India and China, as per the US, are fastest growing major economies in the world and do not deserve a ‘developing country’ tag.
- US pointed out ....
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