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China´S Accession To Wto: Exaggerated Fears?

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  • Yuefen Li

Abstract

The determination of China to accede to the World Trade Organization was driven mostly by its desire to further its economic reform. However, because of the spectacular growth in its international trade in the past two decades, there is the fear that with China’s accession to WTO, China would undergo another wave of international trade expansion which might cost job opportunities in both developed and developing worlds. On the other hand, the Chinese are wary of social dislocation to be caused by intensified foreign competition in the post-accession period. A close examination of the structure of China’s international trade shows that because of the high import contents of China’s exports and the fact that foreign-funded companies account for about half of China’s international trade, future growth in China’s international trade will benefit to various degrees China’s trading partners as well as home countries of transnational corporations. Furthermore, the talk of an imminent export surge from China seems far- fetched, as the conditions of China’s accession to WTO as well China’s foreign trade potential are unlikely to permit that to take place. On the whole, the challenges posed by China’s accession to WTO will, at least in the short run, be greater to China than to its trading partners. However, two decades of fast economic growth and opening-up to the outside world have prepared the country. Therefore, the new set of problems for China is likely to be surmountable.

Suggested Citation

  • Yuefen Li, 2003. "China´S Accession To Wto: Exaggerated Fears?," UNCTAD Discussion Papers 165, United Nations Conference on Trade and Development.
  • Handle: RePEc:unc:dispap:165
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    File URL: http://www.unctad.org/en/docs/osgdp165_en.pdf
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    References listed on IDEAS

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    1. Ianchovichina, Elena, 2001. "Trade Liberalization in China’s Accession to WTO," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 16, pages 421-445.
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    Cited by:

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    17. Chin Hee Hahn & Yong-Seok Choi, 2010. "China’s Rise and Production and Investment Growth in Korean Manufacturing Industries: Channels and the Effects," Chapters,in: The Rise of China and Structural Changes in Korea and Asia, chapter 6 Edward Elgar Publishing.
    18. Shigehisa Kasahara, 2013. "The Asian Developmental State And The Flying Geese Paradigm," UNCTAD Discussion Papers 213, United Nations Conference on Trade and Development.
    19. Jörg Mayer, 2010. "Global Rebalancing: Effects On Trade Flows And Employment," UNCTAD Discussion Papers 200, United Nations Conference on Trade and Development.
    20. Stephany Griffith-Jones, 2014. "A Brics Development Bank: A Dream Coming True?," UNCTAD Discussion Papers 215, United Nations Conference on Trade and Development.
    21. Amelia U. Santos-Paulino, 2012. "Trade, Income Distribution And Poverty In Developing Countries: A Survey," UNCTAD Discussion Papers 207, United Nations Conference on Trade and Development.
    22. Javier Lindenboim & Damián Kennedy & Juan M. Graña, 2011. "Share Of Labour Compensation And Aggregate Demand – Discussions Towards A Growth Strategy," UNCTAD Discussion Papers 203, United Nations Conference on Trade and Development.
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    24. Filimonov, Vladimir & Bicchetti, David & Maystre, Nicolas & Sornette, Didier, 2014. "Quantification of the high level of endogeneity and of structural regime shifts in commodity markets," Journal of International Money and Finance, Elsevier, pages 174-192.

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