America's Role in the World Trade Organization Debate Over China

By granting China most-favored-nation trade status the United States has started that long and difficult process of bringing China out of its international dark ages. In order to live up to the terms of most-favored-nation trade status China has had to become more open to social and economic changes. These reforms included more economic freedom, easier access for foreign direct investments. The economic developments these reforms have been to a main cause for China’s newly increased gross nation product. Over a ten-year period from 1978 to 1988 most-favored-nation trade status was directly responsible for an annual ten percent growth in China’s gross national product.

Globalization is a process that refers to the increased integration between different countries and economies as well as the increased impact of international influences on all aspects of life and economic activity. Over the last 50 years, globalization has had a tremendous impact on the Chinese economy. The impacts brought forth by globalization can be both positive and negative and effect both economic performance, economic growth and the development of China’s economy. Globalization is the main factor responsible for China’s significant growth that has taken place over the last two decades. However, globalization itself is not entirely responsible. The Chinese economy has also implemented strategies which have been very effective in promoting economic growth and development. These strategies include the implantation of“Open door policy”, “Reformation” of China’s agricultural system and joining the World Trade Organisation.

Relationships with China have proved profitable for some major U.S. corporations. One of the reasons that the U.S. has become so dependent

The United States and China have long had a complex relationship. The tension between the two powers is related to the communist regime in China. The United States and China have almost always been on opposing sides in a conflict such as the Korean War, the Tibetan uprise, or the race for nuclear weapons. However, just as the United States has grown in power, China has done the same. China is and always has been the most influential state in Asia. While it has been on the world stage for sometime, its economic and military power has been undermined by more pressing international events. As China’s rise becomes more apparent, many wonder what effects it will have on the global economy and whether it will lead to conflict between the United States and China. Through the exploration of realism, liberalism, and constructivism the consequences of China’s rise can be understood.

Henderson, Callum. China on the Brink: The Myths and Realities of the World's Largest Market. New York: McGraw-Hill, 1999. Print.

Spanning over the last few decades, China’s economic rise seems nothing short of a phenomenon. The country has flourished – growing from being impoverished to what is now the world’s second largest economy. Many analysts describe this massive rise in such a short time span as “one of the greatest economic success stories in modern times.” (SOURCE) As China’s gross domestic product (GDP) rapidly escalates, Western countries are in fear of China soon becoming the world’s largest economy. However, with the help of penetrating evidence, the myth of China as being a threat to the United States’ economy is debunked in Peter Nolan’s Is China Buying the World?. Published in 2012, Nolan, an international expert on China’s economy, analyzes China as

While there are some irritants in China-U.S relation, there are also many stabilizing factors. The PRC and the U.S are major trade partners and have common interest in the prevention and suppression of terrorism and preventing nuclear proliferation. China is also the foreign creditor; China’s challenges and difficulties are mainly

The United States, especially, has been concerned with China's treatment of political dissidents. In May, President Clinton decided to end linking China's trade status with the United States with its record on human rights. China is fully aware of United States' concerns about its human rights record. Given the fact that the United States has made it clear to China that that record will be allied with trade status, China's timing of such restrictive activities has caused United States legislators and administrators to question China's sincerity in its desire to have a favored trade status with the United States. China appears not to understand or to be able to follow through on fundamental modern economic practices. Even on a day to day basis, China's economic leaders seem unable to understand how some aspects of a market economy work. It is no wonder that Chinese investors become anxious about their investments. The issuance of shares in the Shandong Huaneng Power Development Company also demonstrates the lack of expertise on the part of the Chinese in the modern world market. Certainly, one thing that the CCP has attempted to do is create a market economy while retaining a state controlled system. The lack of a private capital market has handicapped

National economics are often adversarial in nature, a global contest where countries seek to gain advantage over their neighbors, all in the name of wealth and gain. America is no stranger to the game; the U.S. has been the world’s economic leader for the better part of a century. China, however, is the leading contender for the economic top-spot (), and America continues playing directly into China’s hand. America’s current trading posture with China is drastically skewed in China’s favor; if America is going to preserve its position as the leading economic power, existing U.S.-Chinese trading agreements will need to be revised, and additional regulations must be introduced to promote balanced dealing.

The effect of this enormous growth has captured world attention, due to the fact that the large trade surplus China is with U.S has been leading to several issues in both

The WTO accession expected to benefit the status of U.S. exports to China as it would be accelerated due to decreased tariffs and increased market access. President Clinton also anticipated that “this agreement will create jobs for the U.S., it will create jobs for labor union members” (Casey, 2012). A detailed study of trade statistics from 2000 to 2011 establishes the following trade patterns in U.S.-China since China’s WTO accession:

On October 10, 2000 President Clinton's Signing of Legislation Establishing Permanent Normal Trade Relations for China Marks an Historic Moment in U.S.-China RelationsThe United States interest in China is both on an economic and social level. However, the economic level is much higher. China's accession to the WTO will encourage Chinese leaders to move in the direction of meeting the demands of the Chinese people for openness, accountability, and reform. The agreement negotiated last December with China is expected to have three certain results. This can deepen Market Reforms. Also, it obligates China to deepen its market reforms, empowering leaders who want their country to move further and faster toward economic freedom. This agreement will expose China to global competition and thereby

Some major trade policies have negatively impacted the trade patterns of the two countries in a way that in spite of their growing ties, the bilateral trade relationship is often laden with complexities. According to U.S., China’s unfinished ‘transition to a free market economy’ is the root cause for many trade tensions. While China has liberalized its trade governance over the last thirty years, it continues to maintain a couple of

Within all nation-states, a political regime is imposed which attempts to protect the individual interests of that country, however, it can also have the potential to limit that countries economic development and the United States and China are no exception to this rule. This essay will discuss, analyse and contrast the distinct regimes of each nation with regard to their positive and negative aspects from the viewpoint of a potential foreign investor wishing to do business in either of these states. Each

In this case study, we will attempt to answer what measures China took in preparation for acceptance into the WTO and how it adjusted to its eventual admittance in December of 2001. We will also review some of the problems associated with China’s economic growth strategy.