The recently provided the developing country tag. This couldnt be accepted by several countries.
The organization has officially not created any definitions for Developed or developing countries. However, when a tag is provided other countries can challenge the offering. Though, WTO has not provided the definition, two third of its members claim themselves as developing countries. As the members can themselves declare them as developing, China has taken advantage to declare itself as developing. With this, China is trying to widen its dominance in the world trade.
The per capita income of the Chinese in 2020 was 10,435 USD. On the other hand, the per capita income of India was 1,928 USD. India has questioned the Chinese stand based on World Bank Definition of a developing country.
The World Bank classifies the countries into four groups based on the per capita income of the countries. Here are the types based on the per capita income:
Lower Income Countries: 1,0256 USD or less
Lower middle-income countries: 1.026 USD and 3,995 USD
Upper Middle-income countries: 3,996 USD and 12,375 USD
High Income Countries: Greater than 12,375 USD