Sino-us Trade Accord And China's Accession To The World Trade Organization

Qi Luo (Eai, Nus, S'pore),Yinhua Mai (Monash Univ, Australia; East Asian Inst, Nus, S'pore),John Wong (Eai, Nus, S'pore),John Wong (Eai, Nus, S'pore)

Sino-us Trade Accord And China's Accession To The World Trade Organization
Format
Paperback
Publisher
World Scientific Publishing Co Pte Ltd
Country
Singapore
Published
21 March 2000
Pages
60
ISBN
9789810242916

Sino-us Trade Accord And China’s Accession To The World Trade Organization

Qi Luo (Eai, Nus, S'pore),Yinhua Mai (Monash Univ, Australia; East Asian Inst, Nus, S'pore),John Wong (Eai, Nus, S'pore),John Wong (Eai, Nus, S'pore)

The Sino-US trade accord signed in November 1999 in Beijing set a milestone for China’s protracted journey towards becoming a member of the World Trade Organization (WTO). China hailed it as a win-win deal. The trade accord showed the commitment of the Chinese government to further transform China into a market economy. The liberalization measures set forth in the accord may bring about the rise of the private enterprises and further expansion of the services markets, from banking to professional services. However, the implementation of the reform represents a challenge to the Chinese government in managing the potential surge in urban and rural unemployment and the stability of the banking sector. This paper analyzes the details of the Sino-US trade accord and its implications for the Chinese economy.

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