Learn why President Obama (and the next president) must keep labeling China a non-market economy.
President Obama is meeting with Xi Jinping today on the sidelines of the nuclear summit in Washington. There's certainly a lot to be discussed.
If you’re unfamiliar with this debate, you’re hardly alone. It certainly doesn’t get a lot of press. But it’s very important nonetheless, judging by how actively Chinese officials are lobbying their U.S. and European counterparts to get that designation changed. If they’re successful here, it will seriously weaken America’s ability to address unfair trade.
China really wants the United States to change its status. The problem, of course, is that China is in no way a market economy. Rather than gradually reforming its practices into a market economy since joining the World Trade Organization in 2001, China has doubled-down on many of its non-market practices. President Obama (and his successor in the Oval Office) should maintain China's non-market economy status.