Status: Trade Arrangements and World Power

status: Having achieved this status, it is important that China's trade arrangements and participation in addressing important global environmental challenges, with transparency in their partnerships and support for developing nations, reflect this new status and the responsibilities that go with it as a world power, Morrison said, according to The Guardian. He said global institutions must adjust their settings for China, in recognition of this new status. The Australian prime minister used the keynote speech of his US visit, at the Chicago Institute for Global Affairs on Monday, to praise China's economic maturity . Morrison characterised China as a newly developed rather than a developing economy, and argued that status conferred developed-world obligations on the Chinese leadership. That means more will be expected, as has always been the case for nations like the United States. With the UN climate action summit under way in New York, Morrison is arguing that China needs to contribute more to the global effort to reduce greenhouse gas emissions to make a developed economy contribution rather than be given more leniency as a developing economy a stance Beijing rejects. China's young climate heroes fight apathy and the party line Read more Morrison's comments signal that Australia has shifted its policy on global responsibility for combating the climate emergency. (news.financializer.com). As reported in the news.