US, China, Germany benefit most from WTO membership: study

Monday, 2019-12-30 22:57:10
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The United States, China and Germany were the countries that benefited most from their membership in the World Trade Organization (WTO), according to a study published by the German think tank Bertelsmann Stiftung on December 30.

The study found that the United States, China and Germany had generated "by far the largest income gains," which were directly attributable to their WTO membership.

According to the study, through their WTO membership, the United States generated income gains of around US$87 billion in 2016, while the Chinese and German economy gained around US$86 and US$66 billion respectively.

"The WTO is the operating system of the world economy that ensures that goods and services can be traded in a stable and rule-based environment on a daily basis," said Christian Bluth, trade expert at the Bertelsmann Stiftung.

In 2016, WTO membership led to a total increase in prosperity of around US$855 billion for all its members worldwide, the report said.

However, the study noted that countries that were not members of the WTO were losing "due to the greater economic integration of WTO members."

"Even if no organization is perfect, anyone who believes they can rely on a system of bilateral trade agreements instead of the WTO risks enormous losses of prosperity in international trade," added Bluth.

Xinhua