[HIGHLIGHTS] This is what gives China its status as a developing country and that is why America seeks to strip it of it

China has the world's second-largest economy after the United States. Congress believes that China should be treated as a developed country on an equal footing with America's.

China has established a series of international organizations, including the Asian Infrastructure Investment Bank and the Shanghai Cooperation Corporation. China is seeking not to change its developing country status because it benefits greatly from its export conditions, tariff levels and other benefits, and the U.S. has not been able to reach consensus among WTO members to change that status.