On Friday, a Chinese Foreign Ministry spokesperson urged the United States to respect multilateral rules and return to a rules-based global trading system. The call comes amidst tensions following the U.S. release of a Section 301 investigation report targeting China’s maritime, logistics, and shipbuilding industries.
Spokesperson Guo Jiakun made the remarks during a regular press briefing, expressing strong dissatisfaction and firm opposition to the U.S. actions. Guo emphasized that the Biden administration’s launch of the investigation seriously violates World Trade Organization (WTO) rules and constitutes an act of protectionism.
“China is strongly dissatisfied with and firmly opposes such an act,” Guo stated, noting that China has expressed its stance multiple times. He criticized the U.S. for blaming China for issues within its own shipbuilding industry.
According to Guo, multiple research reports from the U.S. indicate that the American shipbuilding industry lost its competitive edge years ago due to overprotection. He highlighted that the development of China’s related industries results from technological innovation, active participation in market competition, and benefits from China’s comprehensive industrial manufacturing system and vast domestic market.
Guo asserted that the Biden administration’s actions lack factual basis and run counter to economic common sense. He affirmed that China will closely monitor the progress of the investigation and will take all necessary measures to safeguard its rights and interests.
The tension between the two economic powers underscores the complexities of international trade relations and the challenges faced in maintaining a fair and rules-based multilateral trading system.
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China urges U.S. to return to rules-based multilateral trading system
cgtn.com
