German Chancellor Angela Merkel, Europe's most powerful leader, has said she favours, in principle, granting China market economy status. U.S. trade diplomat Chris Wilson told the WTO meeting that the expiry of the clause did not require other WTO members to automatically grant China market economy status on Dec. 11. The European Union is also debating China's market economy status. U.S. Treasury Secretary Jack Lew said last month that the stance on China's market economy would be determined ultimately by the U.S. Commerce Department. China's envoy at the WTO meeting said Beijing agreed that the expiry of the clause did not require automatic granting of market economy status, according to a WTO official who was present at the meeting.

Source: Thanhnien News July 15, 2016 08:48 UTC