Britain says China has damaged trust in global trade system



William James | Reuters

LONDON (Reuters) – Britain on Friday said China had contributed to an erosion of trust in the global trade system, offering to work with the European Union, Japan the United States and others to clamp down on what it sees as unfair subsidies for state-owned enterprises.

Trade minister Liz Truss, who is in charge of building Britain’s new trade links around the world following its exit from the European Union, made the comments at a World Economic Forum online panel event titled “Fixing International Trade”.

“Some of the behaviour by China on areas like forced technology transfer, subsidies by state-owned enterprises, and also IP (Intellectual Property) violations have led to some of the mistrust in the global trading system,” she said.

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