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China calls for overhaul of farm subsidy rules under WTO

“There are very unfair rules in the agriculture sector, and enormous subsidies some developed country members are entitled to, that severely distort international agricultural trade,” Wang Shouwen, vice minister of China’s Ministry of Commerce, told a press briefing. Agricultural subsidies allowed for developing countries, however, are capped at 10% of the value of production and have “very limited impact” on trade, added Wang, yet are vital for ensuring grain supply and food security.

Top GameStop executive steps down after less than a year on the job

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