China's Joining The World Trade Organization

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seem relatively minor. Exactly how China meets these challenges will have a great impact upon its development in many areas. However, the impact will not be confined to China alone, rather, the entire world will be affected by China's accession and how it is handled (Batasali, Shantong, & Martin, 2002).
Over the past 15 years, China's integration into the global economy has made a major contribution to continued growth in international trade. Exports from and imports to China have grown faster than the overall rate of world trade growth for over twenty years (see Table 1 and Figure 1, , Rumbaugh & Blancher, 2004). While these growth rates are indeed dramatic, they are similar to those experienced by other rapidly developing economies during the period of time in which they were being integrated into the world trading system.
As China has increased its levels of trade with other countries, the composition and ...

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future.

Overview and Discussion

History

A brief review of the events that led to Chinas' WTO accession begins in the middle of the twentieth century. Shortly following the end of WW II, the Republic of China (ROC) became an original member of the General Agreement on Trade and Tariffs (GATT). This eventually evolved into the World Trade Organization. After the Communist revolution drove the ROC government out of the mainland of China and to the island of Taiwan, the ROC withdrew its membership from the GATT (Mastell, 2000).
Initially, the newly named People's Republic of China showed very little interest in Western institutions of economics like the GATT. However, when ...

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