China and the world trading system

Aaditya Mattoo and Arvind Subramanian

No 5897, Policy Research Working Paper Series from The World Bank

Abstract: The World Trade Organization has been until recently an effective framework for cooperation because it has continually adapted to changing economic realities. The current Doha Agenda is an aberration because it does not reflect one of the largest shifts in the international economic and trading system: the rise of China. Although China will have a stake in maintaining trade openness, an initiative that builds on but redefines the Doha Agenda would anchor China more fully in the multilateral trading system. Such an initiative would have two pillars. The first is a new negotiating agenda that would include the major issues of interest to China and its trading partners, and thus unleash the powerful reciprocal liberalization mechanism that has driven the World Trade Organization process to previous successes. The second is new restraints on bilateralism and regionalism that would help preserve incentives for maintaining the current broadly non-discriminatory trading order.

Keywords: Emerging Markets; Economic Theory&Research; Free Trade; Debt Markets; Trade Law (search for similar items in EconPapers)
Date: 2011-12-01
New Economics Papers: this item is included in nep-dev and nep-int
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Citations: View citations in EconPapers (1)

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Journal Article: China and the World Trading System (2012)
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