CHINA’S MARKET CLIMATE AND THE ECONOMIC PROSPECT AFTER ITS WTO ACCESSION

Reform and opening up to the outside world constitutes a basic long-term state policy that China adheres to 20 odd years’ reform and development has brought about profound changes to the Chinese economy. First, China has transformed from a planned economy to

WTO Accession: A Challenge to Chinese Administrators

Those people who will have to face the most severe challenges posed by China’s impending accession into the World Trade Organization (WTO) are not the executives of domestic business enterprises but various levels of the administrators in the Chinese government, warns Prof. Cao Jianmin, vice president of the National Supreme People’s Court.

Chinese Policy Options on International Capital Flow after WTO Accession

I. IntroductionThere have been numerous studies on free capital mobility, its management and impact on developing countries’ economy during the past decades. International capital flows create opportunities for portfolio diversification and risk sharing. In classical cases, capital mobility permits a more efficient global allocation of savings and directs resources toward their most productive uses (Fischer, 1998, etc.). However,

The Impact of China's WTO Accession on the Car Industry

1 Mini Cars (1 L) In 2000, China imported less than 600 units of mini cars The domestic-made mini cars are taking an absolute main position on China’s mini car market, with advantages of sale and service system, parts supply, Iow price and localization rate. After the China’s WTO accession, it is predicted that the import of mini cars will keep increasing while the amount will not be big. The impact on domestic-made mini cars will be gentle. The current price of domestic-made mini cars is 20% higher than that of their counterparts abroad. After the

On the Eve of China's Accession to WTO New Measures Adopted to Encourage Foreign Investment in China

The terrorist attacks in the United States last month have not slowed down the process of China′saccession to WTO.It is expected that China will eventually join WTO this November.Currently China isworking intensively to revise its economic and foreign trade laws and regulations in conformity with the WTOrules.According to sources from the Ministry of Foreign Trade and Economic Cooperation(MOFTEC),China is to adopt the following measures to further encourage foreign investment in China.

China- Seven Years after Access into WTO

The Access into WTO is a milestone in China's process of reform and opening- up. In 2001, China fi nally became a WTO member after years of negotiation to overcome the hardship in the way. Seven years passed, and China's economy, in particular, its foreign trade has greatly evolved. Mr. Mike Moore- the No. 1 witness of China's entry into WTO, came to Hangzhou on the invitation of the 15th Annual Global Finance Conference, and accepted our exclusive interview:

Economic Implications of China's Accession to the WTO

I. IntroductionChina’s accession to the World Trade Organization (WTO) on 11 December 2001 was a monumental event. Never has an accession to the WTO stirred up such intense emotions throughout the world: euphoria, envies, and, above all, fears. Workers on both sides of the Pacific Ocean and beyond have genuine fears of losing their jobs. Governments and entrepreneurs from both developing and developed countries are afraid of

Special Issue: Impacts of China's Accession to the WTO on Its Economy

The main themes of the Chineseeconomy since the 1980s have beeninstitutional reform, structura readjustmentof industry, and resulting economic growth.With China’s accession to the WTO thegovernment will not change the generaldirection of economic development in thenew century. China will instead go on withinstitutional reform and structuralreadjustment and try to maintain a high rateof economic growth along a clearer directionand in accordance with a tighter schedule.As China develops its economy in a newinstitutional environment, it will be

How China Will Deal with the Impact after Its Accession to the WTO—Interview with Dr.Klaus Kautzor-Schroder

On 10 April 2002, Professor Qin Yi, Editor-in-Chief of Social Sciences in China Press,interviewed Dr. Klaus Kautzor-Schroder. The influence of China’s accession to both of theWTO and China itself, and how China will implement its accession protocol were discussedin the interview. Dr. Kautzor-Schroder served in the GATT from the 1970s to the pre-found-ing period of the WTO. He was Director in the GATT Secretariat for 20 years and responsiblefor tariffs, NTMs, AD, Subsidies, safeguards, FTA and a number of other trade policy-relatedareas. During his tenure of office he took part in the Tokyo Round and Uruguay Round multi-lateral trade negotiations. After retiring in 1991, Dr. Kautzor-Schroder has given his help toa number of developing countries in their accession process. He has visited China many timesin connection with the training of Chinese civil servants and young professionals. This inter-view was conducted during his stay in China.

Agreement on Accession to WTO Signed

China and the USA reached the accession agreement on China’s entry into the World Trade Organization (WTO) in Beijing on November 15, 1999, which means China’s 13-year bid for WTO membership took a significant step forward, Chinese Foreign Trade Minister Shi Guangsheng said that China is looking forward to joining the 135-member trade rule-making organization as

Offshoring,Wages,and Skill Premiums:Firm-level Evidence from China

Using detailed Chinese manufacturing firm production and trade data from 2000 to 2006,this study finds that offshoring significantly increases firms’average wages.First,using the quasi-natural experiment of China's accession to the World Trade Organization,we investigate how a reduction in offshoring costs affects the manufacturing firm's wages and find that a productivity effect and a job-relocation effect are two possible channels.Second,the dynamic decomposition of industry-level wages indicates that the within-firm effect is 0.547,accounting for 31.5 percent of the total variation.Finally,a Mincer-type regression shows that offshoring also increases within-firm skill premiums.Our findings have strong implications for the government related to framing appropriate industrial policies to raise wages and reduce income inequality.