WTO an important support for international economic stability

WITHOUT NAMING CHINA, the United States, European Union and Japan criticized overcapacity issues at the 11th ministerial-level meeting of the World Trade Organization in Buenos Aires, Argentina, earlier this week. The US also officially notified the WTO that it does not recognize China's market economy status. Song Guoyou, deputy director of the Center for American Studies of Fudan University, commented in an article published by the Global Times on Thursday:

Some people think the US is trying to turn the WTO into a new tool to contain China, and some even suggest China should withdraw from the WTO, because of the unfair treatment it receives. These points of view show their shortsightedness and lack understanding of the WTO.

As an international multilateral trade organization, the WTO has undertaken rounds of painful, yet crucial, negotiations to advance free trade, and has chalked up a series of rules to prevent the liberalization of trade from being disturbed by protectionism.