OECD, G20 members like India & China should not get special rights: US to WTO
The Economic Times | Thu, Feb 21, 2019
by Kirtika Suneja
NEW DELHI: The US has proposed withdrawal of special rights and exemptions for emerging economies such as India and China, which are members of the Organisation for Economic Cooperation and Development (OECD), Group of 20 (G20), classified as “high income” by the World Bank or account for more than 0.5% of global merchandise trade.
“The proposal is a devastating one. It will deprive a large number of countries from exemptions,” said an official privy to the details. The proposal made to the World Trade Organization last week comes days after the US accused emerging economies of claiming rights and using exemptions from commitments meant for poorer nations in global trade negotiations.