China’s Entry into the WTO

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Essay China’s Entry into the WTO

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A discussion on the benefits of China’s accession to the World Trade Organization for China and its trading partners with a focus on the United States.

This paper discusses the benefits of China’s entry to the World Trade Organization. It examines how findings indicate that China will benefit from new export markets and increased foreign investment and how the main efficiency gains from WTO membership for China will be in the protected and non-traded sectors, which will feel the impact of import competition or the arrival of new foreign-backed competitors. It looks at how China’s market access commitments will provide U.S. businesses the opportunity for significantly greater market access to a broad range of goods and services in sectors that are of key importance to U.S. businesses. It also shows how East Asian economies could also benefit significantly from China’s membership, since Japan, the Republic of Korea, and Taiwan (China) all provide intermediate goods and quality consumer durables that could gain market share in China.

Outline
Introduction
Expected Benefits
Stability in External Economic Relationships
Access to China’s Market
China Revitalized
Conclusion
`There are seven types of trade regime commitments in China’s WTO accession agreement that have a wide variety of positive implications for China’s operation as a free market economy (World Trade Organization: analysis of China’s commitments to other members, 2002). Some commitments require a specific action from China, such as reporting information about China’s import-licensing requirements to the World Trade Organization. Other commitments are less specific in nature, such as those that confirm China’s general obligations to adhere to WTO principles of nondiscrimination in the treatment of foreign and domestic enterprises. China’s market access commitments will provide U.S. businesses the opportunity for significantly greater market access to a broad range of goods and services in sectors that are of key importance to U.S. businesses.`

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