Current negotiations on financial services at the WTO are concerned with improvingliberalization commitments over the Financial Services Agreement which became an integralpart of the General Agreement on Trade in Serv...Current negotiations on financial services at the WTO are concerned with improvingliberalization commitments over the Financial Services Agreement which became an integralpart of the General Agreement on Trade in Services (GATS) in 1997. Important underlyingissues of these negotiations are member states policy decisions in two particular areas:capital account liberalization and prudential regulation. These decisions not only determinethe member countries scope for liberalization; the liberalization commitments in turn alsolimit the scope of national economic policy in these two areas. Taking these characteristicsof financial services talks into account, there are two major goals for the ongoing negotiations:for industrialized countries to make progress with respect to trade business and for developingcountries and emerging-market economies to concentrate on improving market access onan established basis. For China, the most important goal is to implement the far-reachingliberalization commitments that were made in the context of its accession to the WTO inDecember 2001.展开更多
文摘Current negotiations on financial services at the WTO are concerned with improvingliberalization commitments over the Financial Services Agreement which became an integralpart of the General Agreement on Trade in Services (GATS) in 1997. Important underlyingissues of these negotiations are member states policy decisions in two particular areas:capital account liberalization and prudential regulation. These decisions not only determinethe member countries scope for liberalization; the liberalization commitments in turn alsolimit the scope of national economic policy in these two areas. Taking these characteristicsof financial services talks into account, there are two major goals for the ongoing negotiations:for industrialized countries to make progress with respect to trade business and for developingcountries and emerging-market economies to concentrate on improving market access onan established basis. For China, the most important goal is to implement the far-reachingliberalization commitments that were made in the context of its accession to the WTO inDecember 2001.
