Consider the following regarding Market Economy Status 1 Under WTO norms once a country gets MES sta...........

International Affairs Multilateral Issues

437 views

Consider the following regarding Market Economy Status-

1.Under WTO norms, once a country gets MES status, exports from it are to be accepted at the production costs and selling price as the benchmark.

2.China achieved that status before India achieved it.

3.India is opposed to Market Economy Status for China.

Which of the above sentence/s are true?

1 and 2 Only

1 and 3 Only

3 Only

1, 2 and 3

Explanation:

1 and 3 Only

The first statement is correct. Under WTO norms, once a country is recognized as having Market Economy Status (MES), its exports are to be evaluated based on the production costs and selling prices within its domestic market. This is to prevent anti-dumping measures based on comparisons with non-market economies.

The second statement is incorrect. China has not achieved Market Economy Status before India. In fact, China has been seeking MES recognition for years, but it has faced opposition from various countries, including India.

The third statement is correct. India has been opposed to granting Market Economy Status to China. India, like many other countries, has expressed concerns about the potential impact on its domestic industries and the global trade balance if China were to receive MES recognition

Report error

Submit Error