Chinese ex-vice minister slams US for putting WTO at risk of being ‘irrelevant and non-existent’
- Zhu Guangyao says World Trade Organisation is in ‘real danger of being suspended’ after move to block appointment of new judges to Appellate Body
- He tells international relations forum in Beijing that a path needs to be found to uphold the principles of free trade and equality
A former senior Chinese finance official on Monday slammed the United States over its move to stymie the World Trade Organisation, saying it had put the international body at risk.
“On December 10, because of the unilateral blocking by the United States, the appeal mechanism of the WTO had to be suspended, and the function of the WTO is now facing a real danger of being suspended,” Zhu said during an international relations forum at Renmin University of China in Beijing.
“The WTO risks becoming irrelevant and non-existent,” he said. “So how can international trade be further developed? I think it will take the collective efforts of all 164 member states.”
The WTO’s Appellate Body has the final say on trade disputes heard at the Geneva-based organisation and it requires a minimum of three judges to hear cases. It has disintegrated after the tenure of two of its final three judges expired.
It is considered by many to be the WTO’s most effective mechanism, since its rulings can result in tariffs being placed on contesting member nations, meaning it is viewed as a deterrent against unilateral protectionism.