The term “developing country” was recently coined by the . Several countries would be unable to tolerate this.
Highlights:
There are no formal definitions for “developed” or “developing” countries in the organization. However, other countries can contest the offer when a tag is provided.
Even though the WTO has not specified a definition, two-thirds of its members claim developing countries.
Because countries can classify themselves as developing, China has taken advantage of the opportunity. China is attempting to expand its global trade supremacy in this way.
A developing country has various advantages under the WTO. The S&DT provisions in WTO agreements give developing countries special privileges.
S&DT stands for Special and Differential Treatment. These clauses allow members to treat them with favor.