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tions at the Brussels summit, has pledged to intensify discussions on the rules concerning in
dustrial subsidies, a priority for the WTO reform for the EU. This is being seen as a breakthrough by the EU side.
In fact, almost all countries provide subsidies for domestic companies in certain sectors, and i
n most cases, China has given subsidies to Chinese companies in strict accordance with WTO rules as its ultim
ate goal is to achieve complete marketization. Yet intensifying discussions on industrial subsidies and other
sensitive issues, including intellectual property rights protection, is a step that must be taken to not only addre
ss WTO members’ concerns, but also invigorate the organization and the global trading system.
China, US should jointly promote WTO reform
Chen Fengying, a senior researcher in world economy at the China Institutes of Contemporary International Relations
The Office of the United States Trade Representative seems to have made dr
iving the WTO reform its priority so that Washington can claim the discourse rights in global t
rade mechanisms and lead the process for making new trade rules and establishing a new global trading system.