Although it has been 15 years since
China signed the World Trade Organization (WTO) Accession Protocol, it has not yet received market economy status. In July this year, at a WTO meeting it was agreed that the expiry on December 11 this year of a clause allowing other WTO members to treat
China as a non-market economy for 15 years when assessing antidumping duties did not require member countries to grant
China market economy status automatically.
On December 12, US Commerce Secretary Penny Pritzker stated that the US will not be granting
China market economy status, while last week Cecilia Malmström, European Commissioner for Trade, said that the EU is not declaring
China a market economy. The US and the EU have been joined by Japan which has said that it will continue to view
China as a non-market economy.
Meanwhile, Chinese Minister of Commerce Shen Danyang said that
China will take the necessary steps to defend its rights.