WTO and China

Essay by congeeUniversity, Bachelor'sA-, May 2006

download word file, 17 pages 3.0

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Table of Contents

1.0 Introduction 2

2.0 WTO and China 3

2.1 The Socioeconomic Aspects 4

2.1.1 Changes in social classification and economic diversity 5

2.1.2 Changes in the agriculture sector 5

2.1.3 Impact on heavy industry 5

2.1.4 Implication on Religious dynamics 6

2.2 The Financial Aspects 6

3.0 General Analysis 7

4.0 Conclusion 9

5.0 Bibliography 10

1.0 Introduction

The essay will be looking at the effects on China's economy after it joined the World Trade Organization (WTO). As a Chinese immigrant raised and cultured of Western civilization in Canada for most part of my life, furthermore finishing fourth and final year program of Honours Baccalaureate in Commerce (option in International Management), already with an arranged management position job in China. I believe that it's extremely important to learn the Chinese economical environment, the socioeconomic aspects and the general analysis, in order to become a successful manager.

First of all, a brief history of what WTO is and how it was formed are to be illustrated. Since its inception in 1995, the WTO has regularly been in the news. There have been optimistic stories of expanding WTO membership that emphasize freer trade generates numerous benefits for consumers. Newspapers report on the details of WTO entry negotiations for important countries like China and remind us of the gains from trade.

At other times, media reports might lead us to believe that disputes among WTO members are about to tear the organization apart. Disagreements between the U.S. and the European Union (EU) over everything from U.S. corporate taxation, to genetically modified organisms, to special steel tariffs make headlines worldwide.

The WTO began life on 1 January 1995, but its trading system is half a century older. Since 1948, the General Agreement on Tariffs and Trade (GATT) had provided the...