Chinese representatives at a WTO meeting refuted U.S. accusations of “overcapacity” and condemned Washington for violating World Trade Organization trade rules. They defended China’s production levels and challenged what they called baseless claims.
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00:00Chinese representatives at a WTO meeting refuted U.S. accusations of overcapacity,
00:07the act of producing far more certain goods than the global market needs.
00:11Other than that, they condemned the U.S. for violating World Trade Organization, or WTO, trade rules.
00:20At the WTO's Committee on Subsidies and Countervailing Measures meeting,
00:25Chinese representatives said there is no universally accepted standard or method for assessing overcapacity,
00:32and supply-demand imbalance is the norm.
00:34The U.S. and other WTO members contradict market economy principles and the logic of globalization
00:40by hyping up overcapacity and making it an excuse to create anxiety to smear and suppress China.
00:48Chinese representatives also pointed out that the U.S. reciprocal tariffs
00:52disrupt global trade and hurt the interests of developing countries.
00:56At the same time, China acts as a stabilizer for international trade growth
01:00and consistently stands with developing members.
01:03China's representatives also said that the U.S. actions deviate from market economy principles,
01:08severely disrupt the normal order of international trade and investment,
01:11and called on WTO members to strengthen cooperation,
01:16oppose U.S. unilateral bullying practices,
01:18and jointly safeguard the rules-based multilateral trading system.