Will China sue the world?

China was to obtain the status of a market economy after 15 years of WTO membership. However, the United States admitted that China did not meet the criteria. The European Union is of the same opinion. China promises a tough response. According to some lawyers, today the country may sue Brussels and Washington.

The Obama administration has recognized that China does not meet the necessary conditions, and the WTO Accession Protocol does not require the United States or any other member of the organization to automatically grant China this status after December 11, 2016. The new American president will not change that. Already during the election campaign, he announced the protection of the economy and the creation of jobs in the United States. China, which accounts for half of the US trade deficit, "is not playing by the rules," he said.

The situation on the steel market can serve as a prime example. In China, there has been a huge overproduction for many years and some of the steel is flooding markets around the world, resulting in lower prices. Outside of China, observers say this has been made possible by government support for companies through a system of subsidies and subsidies that are more or less disguised.

Some lawyers believe that China can sue the United States, the European Union and Japan if it does not receive the status of a market economy. The Financial Times quotes the PRC Ministry of Commerce announced the opening of "necessary measures" against those WTO members who refuse to grant China this status.