September 25, 2025

Get ready for a trading shake-up! The World Trade Organization (WTO) on Wednesday cheered Beijing's powerful announcement to stop asking for special treatment in future WTO talks. This is a sparkling step toward a fairer global trading playground. "This is a pivotal moment for the WTO," said Ngozi Okonjo-Iweala, the WTO chief, in a statement full of hope and energy. "China's decision reflects a commitment to a more balanced and equitable global trading system." This eye-catching declaration came after Chinese Premier Li Qiang told the world on Tuesday that China, the second-largest economy on our planet, will no longer seek the benefits that developing countries usually get at the WTO. These benefits include longer time to meet commitments and more help to boost their trade. Li's speech was made during a high-level meeting right alongside the United Nations General Assembly, as reported by China's official news agency Xinhua. Li Qiang explained that China is acting as "a responsible major developing country." However, this hasn’t stopped some wealthy countries, including the U.S., from saying China should not be treated as a developing nation anymore — since China has grown to be the world's top trader in goods. Despite stepping aside from these special privileges in the future, China's envoy to the WTO, Li Yihong, made it very clear: Beijing still calls itself a developing country. She told reporters that giving up this special treatment “does not involve any change to China's status as a developing country.” Instead, it shows China's move to handle current global trade challenges boldly and responsibly. Ngozi Okonjo-Iweala praised China’s announcement as "a significant step in the ongoing discussions about the role of large, advanced developing economies within the multilateral trading system." She added, "The Chinese announcement sends a strong signal of support for WTO reform and will help foster a more level playing field for all members. This move will undoubtedly energise discussions and help us work toward a more agile and effective organisation for the 21st century." So, what’s cooking at the WTO? China’s big leap promises a hotter, fairer trade game. The global marketplace might just be entering a new, exciting stage of equality and teamwork!

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Tags: China, Wto, Trade policy, Developing countries, Global economy, Ngozi okonjo-iweala,