When developed countries apply double standards, WTO does nothing
Jakarta (ANTARA) – Researcher of the Transnational Institute Rachmi Hertanti has suggested that the G20 Presidency of Indonesia discuss the impact of domination of the United States and China on the economy of developing countries.
“In the context of the interests of developing countries, the Indonesian G20 Presidency should be able to discuss the impact felt by developing countries, especially in Asia, from the battle for dominance between the US and China,” Hertanti said in a statement here on Sunday.
She made this statement based on a number of facts that developing countries are very dependent on investments from these two countries, for their national development agenda.
ASEAN’s Indo-Pacific agenda could actually be a catalyst for existing conflicts, where ASEAN has the opportunity to determine the game, according to her.
“But of course they have to stick together. This is difficult, because ASEAN itself is fragmented, especially when it comes to dealing with the South China sea conflict,” said the graduate of the master’s International Trade Law program of UI (Indonesia University).
Hertanti emphasized that developing countries in the G20 must be consistent to not get caught up in partisan actions when pushing for their interests.
She gave an example of how Indonesia can ensure that all developing and poor countries in the world can access vaccines, including the supply of raw materials and technology to produce vaccines as an independent production.
Indonesia, she continued, must be able to lead the discussion on multilateral rules, particularly with regard to flexibility and special treatment which are urgently needed for developing and least developed countries.
Hertanti, who once served as Executive Director of Indonesia for Global Justice (IGJ), said that the regulation opened up space for industrialization development.
“Including how Indonesia can lead the discussion regarding the rejection of unilateral trade actions from several developed countries which in the end hampers the developing countries’ access to markets and has an impact on various acts of discrimination,” she said.
Previously, Trade Minister Muhammad Lutfi reminded all participants in a discussion panel sponsored by Channel News Asia (CNA) from Singapore that the Regional Comprehensive Economic Partnership (RCEP) could really be a real solution for the world economy hit by high inflation today.
This condition is mainly caused by world trade barriers caused by protectionism and trade wars, as well as the non-functioning of the World Trade Organization (WTO) properly.
“When developed countries apply double standards, WTO does nothing,” the trade minister said in a statement in here on Friday.
The trade minister said that the current high world commodity prices are an opportunity for farmers in large developing countries such as Indonesia, India, Brazil and China to enjoy more benefits. This is considered as a new equilibrium or balance in world food commodity trade.
“Don’t destroy it by blaming one country, such as China, for an unfavorable trading position. It’s dangerous if several developed countries come together to justify their double standards,” said Lutfi.
The double standard referred to by the trade minister is that advanced countries blame and interfere with world free trade, when their trade position is not benefited by a certain country, for example China.
Previously, US President Joe Biden launched the Indo-Pacific Economic Framework (IPEF) with 12 early-stage partner countries, including Indonesia. In a statement released Tuesday, the White House said the framework would deliver a stronger, fairer, more resilient economy for families, workers, and businesses in the US and the Indo-Pacific region.