China's Admittance to the WTO and Industrial Structural Adjustment in the World Economy
The end of the long process of China’s accession to the World Trade Organisation is in sight. How will entry into the WTO affect China’s economy? The work reviewed in this paper shows that China will gain substantially from WTO accession. It will gain from the reforms that it has committed to as part of the accession process. It would gain far more from accession, which will give access to the commitments made by WTO members in the Uruguay Round. The value to China of reforming its services sector and restrictions on investment will also be significant. WTO accession also helps the Chinese government achieve domestic support for its reform agenda by tying domestic reforms to gains from liberalisation in the rest of the world. WTO accession and liberalisation will have significant long-term effects on China’s structure of production and on patterns of trade, and should speed industrial upgrading. China’s liberalisation and structural adjustment can affect the economies it competes with in world markets, for example some of the ASEAN members. However, when liberalisation takes place in the context of a wider program of reform (in the WTO or in APEC), a greater number of sectors are involved and the gains are distributed more broadly. Significant uncertainties remain – the most significant being whether other members will implement their Uruguay Round commitments on textiles and clothing. The accession agreements do not address the risk to China that other countries will resort to anti-dumping actions to protect their industries. The WTO processes also seem unable to deal with another increasingly important source of anxiety – the growth in preferential arrangements. Dealing with these issues requires further work in the WTO, and complementary action outside it. China’s role as APEC chair in 2001 provides opportunities to complement its WTO accession with support for open regional cooperation.
|Date of creation:||May 2001|
|Date of revision:|
|Contact details of provider:|| Postal: Canberra ACT 2601|
Phone: (61-2) 6249 3780
Fax: (61-2) 6249 3941
Web page: https://crawford.anu.edu.au/research_units/ajrc/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Peter Drysdale, 1998.
"Japan's Approach to Asia Pacific Economic Cooperation,"
Asia Pacific Economic Papers
281, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
- Drysdale, Peter, 1998. "Japan's approach to Asia Pacific economic cooperation," Journal of Asian Economics, Elsevier, vol. 9(4), pages 547-554.
When requesting a correction, please mention this item's handle: RePEc:csg:ajrcau:315. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Akira Kinefuchi)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.