WASHINGTON - THE top US trade official expressed concern over a 'troubling trend' toward Chinese state intervention in the economy, according to an annual report sent to Congress on Thursday.
Amid a swathe of trade disputes between the two economic powers, the US Trade Representative said 'significant questions have arisen regarding China's adherence to ongoing (World Trade Organization) obligations.'
While lauding the 'many impressive steps' China has taken to reform its economy in the nine years since it joined the WTO, the report paints a picture of a reform movement that ran aground in the middle of the last decade.
'The overall picture is complex, given a troubling trend toward increased state intervention in the Chinese economy in recent years,' the 100-plus page report stated, listing a string of disputes.
'Problems can be traced to China's pursuit of industrial policies that rely on excessive, trade-distorting government intervention intended to promote or protect China's domestic industries and state-owned enterprises.'
'This government intervention, evident in 2010, is a reflection of China's historic yet unfinished transition from a centrally planned economy to a free-market economy governed by rule of law. -- AFP
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