World Bank urges China to open tech industries
By ASSOCIATED PRESSGeneral Manufacturing China Economy manufacturing World Bank
Report calls for open markets, reduced subsidies and government involvement.
BEIJING — The World Bank and a Chinese Cabinet agency have urged Beijing to roll back plans for government-led technology development that are fueling a tariff war with Washington.
The appeal comes in a report on technology industries as “new drivers” for China’s economy that was commissioned three years ago, before the trade war erupted.
It urges Beijing to open markets and reduce subsidies and government involvement in technology industries that it says might hamper development instead of promoting it.
The report makes no mention of the trade war, but Washington, Europe, Japan and other trading partners cite the same policies as violations of Beijing’s free-trade commitments.