South Korea has ditched its status as a developing country in the World Trade Organization after criticism from the US, in a move that may pressure China to follow suit.
US president Donald Trump has this year lambasted the WTO for allowing too many countries, including China, to claim the preferential trade status, as part of a broader attack on the organisation.
The acquiescence by Seoul — officials had just months earlier said they had no plans to change the country’s status — was not expected to have a significant immediate impact on the Korean economy but would likely have ramifications for other governments which have been repelling US lobbying on the issue, experts said.
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