Is China Still a Developing Country?
Washington —Whether China is a developing or developed nation has long been a source of debate among researchers and China experts — especially as China has risen to become the world's second largest economy and a global manufacturing powerhouse.At the recent summit of the BRICS countries (Brazil, Russia, India, China and South Africa) in Johannesburg, Chinese leader Xi Jinping said "China has been and will always remain a member of [the] developing countries."However, in Washington, lawmakers in Congress have introduced legislation requiring the U.S. administration to use its influence in international organizations to strip China of its status as a developing nation.The debate may sound academic, but it has real-world implications. The benefits that come with the developing nation label include preferential tariff treatment from developed countries, making their exports more competitive in international markets. China also uses its developing status to justify subsidies to industries...