China's Entry into the World Trade Organization

China’s Accession to the World Trade Organization After almost 15 years of negotiations, China successfully entered the World Trade Organization on December 11, 2001. In less than three years since its accession, while China’s progress has been somewhat behind schedule, the country has made very significant changes that have helped transition it to a market economy and open the country to the multilateral trading system. Following the Uruguay Round of multilateral trade negotiations

for the purpose of attracting foreign investors. China’s entry into the WTO in 2001 has been one of the best influential factors in shaping the Chinese economy. As a result, the implementation of new commercial laws, as well as a huge influx of foreign direct investment, has extensively liberalized the economy. China’s economy grew at an average rate of about 10% per year during the period 1990-2006, which was the highest growth rate in the world, and promises future growth to come. The average of

INTRODUCTION: What are barriers to trade? International trade barriers are restrictions put in place by the government to prevent the inflow of international goods and services to the country. These restrictions are placed by the government officials with the intent of protecting their economy from the international competition; they include tariff and nontariff barriers. Some of the argument for trade restrictions includes the following; It serves as a national defense from competitions to

In 1994, 120 nations formed the World Trade Organization (WTO) to administer international trade agreements and help settle trade disputes. President Bill Clinton convinced Congress to pass legislation that enabled the United States to participate in the World Trade Organization. Those who supported the World Trade Organization, highlighted benefits for American consumers, including cheaper imports, new markets, and copyright protection for the American entertainment industry. Opponents argued that

but also around the world. According to Tian (1996), there are three stages of economic reform in China. The first stage is characterized by economic liberalization. This stage was said to be the most remarkable stage as it has greatly changed the Chinese people’s values, thinking and behavior. The changes were first introduced to people in rural areas and later to other industries and geographic areas. The first stage involved a lot of efforts to the development of foreign trade. China began to adopt

In 1996, trade totaled $246 billion ($130 billion exports plus $116 billion imports), an increase of 3% over 1995. Exports being the key factor for its booming economic growth, China's major exports are labour-intensive products in light industrial and textile products, mineral fuels, heavy manufactures, and agricultural goods; Asian countries accounting for almost 40% of China’s exports. China's chief trading partners are Japan, the United States,

countries increasingly acute.The entry of transnational capital increases the speculative and risk of financial markets, making it easy for short-term speculative capital to hit the weak domestic market in developing countries.Economic

Case studies: Trade performance and trade policies of select countries CHINA ID STUDENT 13201433 COURSE ID 122171 | 122071 OCTOBER 25TH OF 2013 CONTENTS 1. Basics of China A. China in Numbers i. Economy ii. Development iii. Trade and Investments iv. Consumption Behavior 2. China foreign trade A. Introduction on China trade policies i. China foreign trade in the past years ii. China

Role in the World Trade Organization Debate Over China The open question on Chinese accession, both in the WTO and in China itself, is whether China is more likely to adopt and sustain economic reforms if it is granted early membership or if membership is delayed until policy reforms are undertaken. (Schott 40, 1996) I. Introduction This observation from Jeffery Schott of the Institute for International Economics captures the essence of the China-World Trade Organization debate in

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 consequences of losing the