Strip China of its Developing Nation Status, 4050

Good afternoon, I’m still reporting on China.

The House of Representatives has unanimously passed a bipartisan bill to strip communist China of its international status as a developing nation, thereby limiting the regime’s access to certain aid from the United States and other nations.

The bill named the “PRC is Not a Developing Country Act” passed by a vote of 415 to 0 with 20 representatives not voting. It will now move to the Senate for final passage into law.

Communist China has been classified as a developing country by the World Trade Organization since it joined the organization in 2001. This classification has allowed China to receive numerous benefits, such as exemptions from certain trade obligations and access to special low-interest loans. However, many argue that China's economic growth and technological advancements have surpassed that of a developing nation, and that it is time for China to relinquish its developing nation status.

Congresswoman Young Kim, a Republican from California his introduced the legislation to urge all international organizations which still support China’s Developing Nation status strip it from them.

Insert Fox News

A debt trap is a situation where a government gets trapped in a cycle of borrowing money to pay off existing debts, resulting in a never-ending spiral of debt. For years, China has been using the low interest loans they take out for themselves as a developing nation to offer some of the highest-interest predator loans to other truly- developing. According

According to NTD News:

There are currently 97 of the world’s 200 nations with Developing Nation Status.

I’m still reporting from just outside the citadel of world freedom. Good day.