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Commodities, from the cereals in our meals to the cotton in our clothes and the copper in our electronics, are the bedrock of global trade. When these raw materials account for 60% or more of a country’s merchandise export revenue, it’s deemed to be “commodity dependent.” While such dependence is a global concern, it affects developing countries the most.
The US House of Representatives unanimously passed a bill on Monday that would direct the Secretary of State to work toward stripping China of its developing country status in international organizations, according to The Hill.