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US seeks to modify global trade rules after China’s success — Lavrov

Based on the rules that were initiated by the US in the first instance China achieved significantly greater success when playing with the US on its field, Russian Foreign Minister stressed

MOSCOW, June 9. /TASS/. Washington and Western partners are attempting to work out a new set of rules for global trade after China’s success using the current rules initiated by the US after World War II, Russian Foreign Minister Sergey Lavrov said on Wednesday.

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"The case in point now is to create a new system, and reform the WTO. It is expressly stated that the US and Europe, rather than China, should define the new rules of global trade," the Minister said.

The position of Washington is explained by China’s much greater success than the US "on the basis of rules approved at the moment in global trade and global economy" and "initiated by the United States after World War II," Lavrov noted. This refers in particular to the Bretton Woods regime, the International Monetary Fund, the World Bank and the World Trade Organization, he said. "Based on these rules that steered the path of globalization, initiated by the US in the first instance, China achieved significantly greater success when playing with the US on its field," the Minister added.

The US is currently blocking the full-fledged operation of the WTO and prevents "the appointment of officials to the dispute settlement body," Lavrov said. "That is why all suits sent to these authorities and which would be 100% lost by the US cannot be tried," he added.

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