China’s Accession to the World Trade Organization

2070 Words5 Pages
bulb-icon

Recommended: The impact of globalization on China's economy

China’s Accession to the World Trade Organization

After almost 15 years of negotiations, China successfully entered the World Trade Organization on December 11, 2001. In less than three years since its accession, while China’s progress has been somewhat behind schedule, the country has made very significant changes that have helped transition it to a market economy and open the country to the multilateral trading system.

Following the Uruguay Round of multilateral trade negotiations, The World Trade Organization (WTO) was established in 1995 as the successor to the General Agreement on Tariffs and Trade (GATT). The WTO is an international organization that watches over trade relationships between nations dealing with goods, services, intellectual property and investments. The main function of the WTO is “to ensure that trade flows as smoothly, predictably and freely as possible” (“The World Trade Organization”). The WTO helps international cooperation by providing countries with a fair forum for resolving disputes over trade issues. Member countries bring their trade disputes to the WTO rather than acting unilaterally. The organization also strives to lower the cost of living and boost economic growth by reducing protectionism and promoting freer trade. Member countries enjoy the security the trading rules provide, but they are required to commit to opening their markets and abiding by the commitments they agreed to.

The process of joining the World Trade Organization is very complicated. The country applying for membership must first describe all characteristics of its economic and trade policies. The prospective member will then begin parallel bilateral talks with member countries to n...

... middle of paper ...

...eb. 2002.

China & the WTO. 26 Nov. 2004. <http://www.ihlo.org/item3/item3d-5.htm>.

“The World Trade Organization…..” April 2003. World Trade Organization. 7

Oct. 2004. <http://www.wto.org/english/res_e/doload_e/inbr_e.pdf>.

Walton, Julie. “WTO: China Enters Year Three.” The China Business Review.

24 Sept. 2004. The U.S.-China Business Council. 30 Sept. 2004. <http://www.chinabusinessreview.com/public/0401/01.html>.

“WTO Ministerial Conference approves China’s accession.” WTO News: 2001

Press Releases. April 2003. World Trade Organization. 30 Sept. 2004.

<http://www.wto.org/english/news_e/pres01_e/pr252_e.htm>.

“WTO successfully concludes negotiations on China’s entry.” WTO News: 2001

Press Releases. April 2003. World Trade Organization. 30 Sept. 2004. <http://www.wto.org/english/news_e/pres01_e/pr243_e.htm>.

Show More
Related

  • What Achievement of the Maya Was Their Most Remarkable?

    854 Words  | 2 Pages

    In Europe, there were several advances being made that would affect our society today. However, simultaneously, societies across the world in the Americas would too be making these types of advances as well. One society in particular were the Maya. These people made technological strides that the Europeans themselves could not even fathom. But, what was their most remarkable achievement? One will find that their achievements of their trade network, a convenient method of transporting goods and messages; architecture, intricate buildings built in large cities on a massive scale; and number system, which takes into consideration some of our key principles in today’s math, have a momentous buildup to the Maya’s most remarkable achievement—their complex calendar, an astonishing nearly accurate calendar that governed Mayan society and is still seen in our own society today.

    Read More

  • Essay On Mayan Achievements

    446 Words  | 1 Pages

    Evidence of this achievement is the finding of three calendars working together like gears. They had days for their own rituals and customs, while the other calendar predicted whats going to happen. For example, it can predict the eclipses of the moon. The calendars were daily accurate as well. This evidence supports why the Maya’s calendars were the Maya’s most remarkable achievement because it was a significance to the Mayans having an organized schedule so they would know what to do or where to go on certain days. The Mayans were also genius due to their ability to predict time and the eclipses of the moon. They created a measure of time and figured it out by the sun and night sky stars alone with no technology to help

    Read More

  • Egyptian Pyramids Compare And Contrast Essay

    521 Words  | 2 Pages

    Both of them used calendars in different ways then we use them today. For example, they used them for time, like to calculate the time of day. The mayans built stronger buildings and cities then the Egyptians ever could which is amazing to me considering how the egyptians were able to build huge pyramids, but not a building. The Mayans also had to worry about floods that would flood their entire farm in an instant so they were forced to adapt and raise their crops on a higher field. They would raise each terrace four feet higher and allow fish to swim through every single channel while they dropped eggs which would fertilize the soil. I found this amazing and this made me realize how smart the mayans

    Read More

  • Impact of Globalization in China

    1467 Words  | 3 Pages

    Globalization has caused the world to change. Our country, China has been dramatically changed by globalization. Our people have moved to cities, and our industry has exploded. We have had huge advances in technology along with education improvement. Despite the fact that China has changed so much, there are still many issues that plague it. China faces serious environmental concerns. New diseases and viruses that are not indigenous to China can cause a wide range of sickness in the new area. Despite some of the the improvements in China that are a result of globalization, the negatives that globalization has brought to China are more than the benefits.

    Read More

  • Essay On Mayans And Aztecs

    846 Words  | 2 Pages

    ...was used to define the best ways to plant, harvest, build or go to war. The other calendar which called “Counting of years” was sacred. The Mayans had three calendars: the Tun-Uc, the Haab and the Tzolk’in. The first “Tun-Uc” followed the cycle of the moon. Another was Haab who used for planting, harvesting and other events. And finally the last calendar called “Tzolk’in”, it was a sacred calendar. Each calendar had something different and something similar to each other.

    Read More

  • Medical Testing on Animals is Considered Animal Cruelty

    1021 Words  | 3 Pages

    Research on living animals has been practiced since at least 500 BC. Over 25 million animals are tested in labs every year. They are used for medical and scientific research. The animals used in research often undergo cruel experimentations and suffer through the pain. During medical testing, less than 2% of human illnesses are seen in animals, therefor medical testing on animals is cruel and pointless. Medical testing on animals should be illegal because products that pass animal tests end up harming or killing humans about 61% of the time.

    Read More

  • Mayan Civilization Dbq

    779 Words  | 2 Pages

    The Mayans lived in Southern Mexico and Central America in their capital, Tikal, which is in present day Guatemala. The Mayans were known for their engineering, one structure they were famous for is their pyramid temple in Tikal (Document 1). This pyramid was the tallest structure in the Americas up until the 20th century and is still standing today. The government must have been strong and well organized in order to carry out such a large task. The Mayan religion had multiple gods and this pyramid was most likely devoted to one or used as a place for sacrifices. Another accomplishment of the Mayans was the creation of their calendar. An extra document that would be useful is one that explains how the calendar was created. The Mayans must have studied astronomy and math to a great length. Similar to the Ancient Egyptians, they wrote with symbols and pictures known as glyphs that were used in the calendar. These glyphs were gods, such as Zotz (Document 2). The use of glyphs is an acknowledgement of a writing system, which is another accomplishment.

    Read More

  • The Mayans In Modern Day Central America

    285 Words  | 1 Pages

    What is life without having a calendar? Would you know when springs gonna come? Would you know when to plant your crops? The Maya created the first 365 day calendar called a solar calendar. They made it so that they would know when to plant crops so that the crops wouldn’t

    Read More

  • Meaning In The Mayan Daily Life

    2116 Words  | 5 Pages

    The Mayans achieved many achievements. Scientists used almost all art to find out about them. Their calendar was made by carving into buildings, stele artifacts, and books.

    Read More

  • Compare And Contrast Mayan Civilization And Mayan Civilization

    760 Words  | 2 Pages

    The long count system calculated the amount of days passed since the beginning of a set point. The set point based on long count dates found in Mayan writings is 3114 BCE, which can only be assumed to be the beginning of the world according to the Maya. The long count calendar predicts celestial events with incredible accuracy. The Haab' calendar contained 365 days every year, much like the modern calendar used globally only without accounting for the extra quarter day each year. The round count calendar was a 260 day count that dictated the time of certain rituals. These calendars had existed before the Classic period, but the long count calendar was particularly important in the Classic period. In fact, the Classic period is defined as the time when the construction of monuments were dated based on the long count calendar. The Maya made remarkable observations of the stars and planets in order to predict future astronomic events (which they associated with fortune or misfortune that would occur on Earth), though they did not develop any science based on their

    Read More

  • Foreign Trade with China

    2820 Words  | 6 Pages

    From the 1970s, there has been a wave of liberalization in China, which was introduced by Deng Xiaoping. This is one of the key reasons to the rise of China to be one of the economic giants in the world. In the last 25 years of the century, the Chinese economy has had massive economic growth, which has been 9.5 percent on a yearly basis. This has been of great significance of the country since it quadrupled the gross domestic product (GDP) of the country thus leading to saving of 400 million of their citizens from the threats of poverty. In the late 1970s, China was ranked twentieth in terms of trade volumes in the whole world as well as being predicted to be the world’s top nation concerning trading activities (Kaplan, 53). This further predicted the country to record the highest GDP growth in the whole world.

    Read More

  • Analysis Of The Us-China Trade

    1570 Words  | 4 Pages

    The U.S. trade deficit has risen more or less steadily since 1992. In the second quarter of 2004, the trade deficit relative to GDP surpassed the 5 percent mark for the first time. Many economists already considered trade deficits above 4 percent of GDP dangerously high. The fear is that continued growth in this external imbalance of the U.S. economy will ultimately spook overseas investors. http://www.americanprogress.org/issues/2004/09/b193700.html

    Read More

  • World Trade Organisation

    2039 Words  | 5 Pages

    The official World Trade Organisation web site, defines the WTO as “the only global international organisation dealing with the rules of trade between nations . . . [through] helping producers of goods and services, exporters, and importers (to) conduct their business”1. It was formed in 1995 after growing out of and extending the institution of the General Agreement on Tariffs and Trade. As of the thirtieth of November 2000, the WTO has 140 member-countries, over three-quarters of which are developing or least-developed countries. As the WTO implies, its current role is to serve as the lubrication for the joints in the engine of globalisation; although just how effective and fair this lubrication may be, is still a point of great contention.

    Read More

  • Summary Of The Globalization Paradox

    1436 Words  | 3 Pages

    After the failed International Trade Organization, Rodrik discusses the Bretton Woods Agreement, the transition from the General Agreement on Tariffs and T...

    Read More

  • The Importance Of International Organizations

    1224 Words  | 3 Pages

    International organizations create space for its members to coordinate interests and actions which helps promote interdependent relationships among them and strengthens their legitimacy. As society has progressed, it has globalized, and in the past 50 years states have had to address their growing dependence, especially in the economic sector. The World Trade Organization (WTO), is an institution which has an immense impact on the international political economy and the way states function within the international system. It organizes agreements and treaties which govern how its members decide policies, tariffs, and keeps states accountable for their actions. For example, the General Agreement on Tariffs and Trade (GATT), determines how states can regulate their import and exports. (Hurd 2014,

    Read More

More about China’s Accession to the World Trade Organization

Open Document