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3 - China's entry into the WTO and its impact on the global economic system

Published online by Cambridge University Press:  05 August 2012

Koich Hamada
Affiliation:
Yale University
Mike Moore
Affiliation:
World Trade Organization
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Summary

See the waters of the Yellow River leap down from Heaven,

Roll away to the deep sea and never turn again!

At the Yellow-Crane pagoda, where we stopped to bid adieu,

The mists and flowers of April seemed to wish good speed to you.

At the Emerald Isle, your lessening sail had vanished from my eye,

And left me with the River, rolling onward to the sky.

Introduction

China was one of the cradles of human civilization; it has been the centre of Asian civilization for thousands of years. It is an immense country, as the two poems by Li Po (Li Bai) quoted above illustrate. The first poem refers to the Huang He (the Yellow River) and the second to the Chang Jiang (the Yangtze River). Chinese culture is ubiquitous in Asia, whether in terms of art, written characters, classical literature and, of course, food. The entrepreneurship of the overseas Chinese has made them successful wherever they have settled. Thus as it enters the WTO, China must be viewed in the context of Heaven (time), Earth (space) and Man (human organization).

First, China's entry into the WTO marks a unique epoch. Until the nineteenth century, Asian history could be regarded as revolving around China. But the Second World War and the socialist revolution interrupted the full participation of China in the world trading system.

Type
Chapter
Information
Doha and Beyond
The Future of the Multilateral Trading System
, pp. 26 - 45
Publisher: Cambridge University Press
Print publication year: 2004

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