CHINA’S WTO MEMBERSHIP:
... of time. Needless to say, China’s accession to the WTO will have significant impacts for both China and the world economy. There are at least three important reasons for economists, as well as policy-makers, to study and understand the significance of and implications of China’s WTO accession. First, China is a big economy. Any changes in such a huge economy will most likely affect the equilibrium of the world market, even the world economic system. It is obviously that China’s WTO membership will bring big changes in China’s economic performance and structure. These changes, in turn, will affect the world economic performance and business structure. This is one of the reasons why the WTO negotiations with the United States and the EU took so long. Secondly, China is a developing country. China’s decisions and actions regarding WTO will affect the decisions and actions of other developing countries. If C...