HKTDC on 18th October reported that the US has announced that it plans to leave the UPU, saying that the multi-lateral system that sets international mailing rates unfairly gives mainland China a competitive edge. UPU was originally founded in 1874 and now covers 192 countries. Since 1969, developing countries — including mainland China — have been assessed lower rates than wealthier countries under this system. The article gives the example of 2 kg package – if shipped within the US the charge would typically be $19-$23, while China Post pays $5 to ship a similar package to anywhere in the US. According to UPU rules, members have 1 year to renegotiate new terms before the withdrawal becomes permanent. White House officials indicated the US would prefer to stay within the union if more favourable terms can be negotiated.