China and the WTO

Paper Summary:

On December 11, 2001, China officially became a member of the World Trade Organization (WTO), opening the country's doors to change and a new economy. This paper looks at the long journey it took in order to achieve this goal and the future prospects of such a step. The paper begins with an historical overview of China's economic structure and how this culminated into a decision to enter the WTO. It discusses the obstacles that China experienced in joining the WTO and the cost of the membership. It provides a table of China's commitments to the WTO and looks at what they expect to get in return. The economic impact of such a move is discussed and how this has influenced China's market structure and financial market reform.

Introduction
History of China's Economic Structure
The Decision to Enter the WTO
Obstacles in Joining the WTO
The Cost of WTO Membership
China's Key Commitments to the WTO
What China Gets in Return
Economic Impact on China
China's Commitments
Foreign Investments
Changes Made and Lessons Learned
China's Market Structure
Financial Market Reform
Trade and Foreign Direct Investment
Conclusion

From the Paper:

"On December 11, 2001, China officially became a member of the World Trade Organization (WTO), opening the country's doors to change and a new economy. One year after China's entry into the WTO, the country reported great success, showing better-than-expected economic growth and fulfillment of its WTO commitments, despite its shaky world economy. The excellent performance of the Chinese economy was clearly demonstrated by its eight percent growth rate in gross domestic product, as well as the significant growth in trade and inflow of foreign direct investment. As a result of its inception into the WTO, financial experts forecast that China will become the fifth trading country with an import-export volume worth US$600 billion and one of the most attractive areas for foreign direct investment, which exceeded US$50 billion in 2002 alone."

More papers on China and the WTO:

• Descriptive Essay # 132754 : "China and the WTO"
• Essay # 36245 : "China and the WTO"
• Essay # 90159 : "CAFTA, China and the WTO"

APA Citation:

MLA Citation: