China insists it is still 'a developing country' despite being second largest economy

China, the world's second largest economy after the US, on Wednesday asserted that it is "still a developing country", arguing that it continued to grapple with the problems of inadequate and unbalanced development.

Threatening to pull the US out of the World Trade Organisation (WTP) over what he described as its unfair treatment of America, President Donald Trump last month said that India and China are no longer "developing nations" and are "taking advantage" of the tag from the global trade body.

Earlier this week, Australian Prime Minister Scott Morrison during his visit to the US criticised China's continuing status as a developing country under the WTO rules, bolstering Trump's claim.

Addressing the Chicago Council on Global Affairs, Morrison said it was time for China to accept greater responsibility.

Countering Morrison's assertion, Chinese Foreign Ministry spokesman Geng Shuang said, "China is still a developing country. There is an extensive widespread consensus. So, ...