The United States is implementing several measures to promote the “de-Chinaization” of the global supply chain to address unfair competitive practices by the Chinese Communist Party (CCP), according to Japanese commentator Ji Lin. Another notable development in this regard is the unanimous approval of the “Ending China’s Developing Nation Status Act” by the U.S. Senate Foreign Relations Committee on June 8. This bill calls for the secretary of state to pursue a change in China’s status from a developing country to a developed country through existing treaties and other mechanisms.
Despite China being the world’s second-largest economy and a recipient of substantial foreign investments, it has consistently claimed the status of a developing country, which grants it certain privileges and flexibility. However, Sen. Chris Van Hollen (D-Md.) said, “From its economic and military scale to massive investments in countries around the world, it is evident that China is no longer a developing country. For a long time, China (the CCP) has been exploiting this designation to gain unfair advantages in multilateral agreements.”…