Australian Prime Minister calls on China to drop ‘developing economy’ status

Australian Prime Minister Scott Morrison has characterized China as a newly developed rather than a developing economy and argued that status conferred developed-world obligations on the Chinese leadership.

In his keynote speech during a US visit on Monday, Morrison said global trade rules are no longer fit for purpose and must be changed to accommodate China's new status as a developed economy.

Having achieved this status, it is important that China's trade arrangements and participation in addressing important global environmental challenges, with transparency in their partnerships and support for developing nations. All these reflect this new status and the responsibilities that go with it as a world power, he said.

In June, Morrison said that more will be expected from China in its responsibilities as a world power. His statement followed a request by China, India, South Africa, and Venezuela to the World Trade Organization that they be categorized as developing countries and thus enjoy preferential treatment from the global trading system.

Source: VOV5