Journal of WTO and China

2011, v.1(01) 31-48

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Assessing the Impact of China's WTO Accession:Hard way of integration,miraculous achievements
Assessing the Impact of China's WTO Accession:Hard way of integration,miraculous achievements


<正>This article provides a brief account of China's persistent efforts to integrate with the world economy with the objective of breaking off the vestige of historical trade discrimination against China that had lasted for centuries and creating a harmonious environment to achieve the WTO objective of raising the standard of living, ensuring full employment,steady growing income and effective demand,developing full use of resources and expansion of production of products and trade.The accession to the WTO marked a milestone of China's remarkable success in the integration process notwithstanding the remaining discriminatory measures that will phase out in the next few years.This will turn a new leaf in China's international economic and trade relations.The open policy culminating in the WTO accession has transformed China from a closed centrally planned economy into a most open,dynamic socialist market economy.It is emerging as the world second largest economy and one of the largest trading countries.China has stronger desire than any country in preserving an open multilateral trading system given its long history of being subject to discrimination and will have a greater role to play in maintaining balanced sustainable growth of the global economy.China's miraculous economic growth of the past thirty years is attributable to the successful market-oriented reform and liberal foreign investment policy.China is by far the most rapidly growing export market and one of the most attractive investment destinations for the world,particularly the top players such as the United States,the European Union and Japan.The way forward should be that China and the world trading community work together to create a win-win environment, a sustainable multilateral trading system that will automatically adapt the fast changing structures of the global economy.