World News | US Senate panel approves bipartisan legislation that will see China lose developing country status

washington [US]BEIJING, June 13 (Xinhua) — The US Senate Foreign Relations Committee passed bipartisan legislation aimed at canceling China’s “developing country” status. The Senate action follows similar legislation passed by the House of Representatives in March.

The U.S. Senate Foreign Relations Committee unanimously passed legislation called the “Status of Developing Countries Act.” It establishes the policy of the United States not to grant China “developing country” status in future treaties and international organizations.

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The legislation directs the Secretary of State to actively seek to shift China’s status to that of a “developed country” in treaties or organizations that permit such modifications. The Senate’s decision is in line with previous moves by the House of Representatives.

Supporters of the bill argue that China’s developing country status entitles it to certain privileges within specific organizations or treaties. U.S. lawmakers have asserted that China can no longer be considered a developing country given its strong economy, military power and extensive investments around the world. They claim China has been using the designation to gain an unfair advantage in multilateral negotiations.

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On March 27, the U.S. House of Representatives unanimously passed the “China is Not a Developing Country Act” by a vote of 415 to 0. The House sponsors emphasized China’s use of its developing country status to obtain development aid and loans. International organizations.

China then used the Belt and Road Initiative to provide large loans for infrastructure projects in developing countries, causing these countries to fall into a debt trap. Lawmakers have accused China of diverting funds that should have been allocated to other developing countries to finance the Belt and Road Initiative and road initiatives.

Although China is the world’s second largest economy, some international organizations, including the United Nations, still regard China as a developing country. Developing countries enjoy preferential treatment in terms of market access, loans, and technical assistance from international organizations such as the World Trade Organization and the World Bank.

Developing countries also benefit from preferential treatment on issues such as climate change responsibility.

Patrick Cronin, director of the Asia-Pacific Security Program at the Hudson Institute and a former U.S. Department of Defense and State Department official, emphasized in an interview with Al Jazeera in April that China seeks to use its developing country status to its own advantage while pursuing global hegemony profit. These two goals are fundamentally incompatible.

Taking a tough stance on China is one of the few areas of bipartisan consensus in Congress. Members of Congress have introduced a number of bills to address competition with the Chinese government. On June 8, the Senate Foreign Relations Committee also passed the Taiwan Protection and National Resilience Act, which requires government agencies to provide reports on U.S. strategies for preparing for and responding to a possible Chinese invasion of Taiwan.

Meanwhile, China’s foreign ministry said on Friday that whether China is a developing country cannot be decided by the United States.

According to the Global Times, Foreign Ministry spokesperson Wang Wenbin said that China’s status as the world’s largest developing country is based on facts and international law, and cannot be easily obliterated by an act of the US Congress.

Wang Wenbin said at a regular press conference: “The US labeling China as a ‘developed country’ is not out of appreciation and recognition of China’s development achievements. The real motive for ending China’s developing country status is to hinder China’s development. ” (Arnie)

(This is an unedited and auto-generated story from a Syndicated News feed, the body of content may not have been modified or edited by LatestLY staff)