China's Entry into WTO and Global Sourcing

Paper Summary:

This paper examines how China officially joined the World Trade Organization last year after a long series of negotiations. It looks at the entry of China into this world body and how it aroused mixed emotions among business analysts in the United States. Proponents feel that it will help Chinese economy and make its industries more competitive, while opponents are of the view that United States employment rate will be badly hurt by China's accession to WTO. The author writes that China will certainly stand to benefit from increased trend towards global sourcing and the paper studies China's entry with reference to this particular issue.

From the Paper:

"China today enjoys a prominent position in the world because it is one of the fastest growing markets and this makes it the center of attention for the global businesses. The country has been introducing trade reforms since a long time now and in its attempt to become a major part of the world community, it offered to join World Trade Organization, which already has 142 members. But accession has not been a smooth journey for China because it was after almost 15 years that it was finally granted entry into this trade body.

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