Last week, South Korea decided that it would abandon its status as a developing country in any future negotiations at the World Trade Organization. Given that World Bank figures show Korea's gross domestic product per capita crossed $10,000 in the 1990s and currently exceeds $31,000, many might rightfully ask: "What took so long?"
Opinion
Trade row over 'developing nation' status highlights Trump's fears
He worries World Trade Organization members are getting favorable treatment
The WTO headquarters in Geneva: changing the status of members like China or India could dramatically alter negotiating dynamics. © Reuters
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