Several Issues Regarding the Impact of the WTO on China's Social Development

Luk Tak Chuen

Chinese Economy, 2001, vol. 34, issue 3, 33-50

Abstract: Although negotiations regarding China's joining the World Trade Organization WTO are already in their final stages, the price that the developed countries are demanding for their approval for China's accession to the WTO seems to have been raised incessantly. In this final round of negotiations, for example, the United States has greatly escalated its terms in regard to China's agriculture. Its demands are now for China to join the WTO as a developed country, and for China to abandon its previously negotiated rights to join as a developing country. This means a dramatic lowering of the agricultural "subsidy" from the 10 percent that had been agreed upon, down to 5 percent. Furthermore, as a new round of ministerial talks was slated for November 2001, we expect the developed countries to step up their pressure for a new round of trade talks and for the developing countries to further open up their markets in other sectors [besides agriculture].

Date: 2001
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