On Tuesday (18 September), the EU issued a concept paper called “WTO modernization” largely parroting US President Donald Trump’s criticism of the global trade body, particularly the manner in which it helped China since 2001. Brussels wants to enhance the role of the WTO Secretariat in ways that would severely undermine the member-driven principles. The EU’s proposal call for new rules in the area of subsidies and state-owned enterprises for targeting China. A least-developed country envoy argued that the paper will “take things backwards” instead of coming to grips with the real problems at the WTO. Members must address issues concerning inclusivity and the development-deficit at the WTO, he said.

Source: Mint September 20, 2018 17:15 UTC