China's accession to the World Trade Organization: the process and the effects

Jelisavac Trošić, Sanja (2019) China's accession to the World Trade Organization: the process and the effects. Megatrend revija / Megatrend Review, 16 (1). pp. 173-192. ISSN 1820-3159

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Abstract

The aim of the paper is to present and explain the changes that have arisen in China’s trade and economy during the accession to the World Trade Organization (WTO) and during its membership in this organization. The article consists of four parts and a conclusion. At the beginning of the paper, China’s negotiations with the GATT are briefly outlined, as well as the main obstacles for not accomplishing these negotiations successfully. The second part deals with the negotiations for the WTO membership and the most important changes China’s economy has undergone to meet the membership requirements. This part of the paper also outlines the most important barriers to the membership, as well as economic reforms and the growth of the non-state economy in China. The third part explains how China, upon its accession to the WTO, has immediately involved in the Doha Development Round negotiations. This country became a member of several negotiating groups within the WTO and signed certain WTO agreements. Moreover, China has undergone a Trade Policy Review several times, which is a periodic obligation of every WTO member. The final section describes the most important changes in China’s trade that have come out from full membership in the WTO. During the sixteen years of its membership in the WTO, China has achieved a never-before-seen rate of trade growth and took the leading position in the world trade. At the end of the paper, we conclude that China has fully integrated into the world economy and that becoming a member of the World Trade Organization has played a major role in this achievement.

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