China and the WTO: Changing China, Changing World Trade [Hardcover]

Supachai Panitchpakdi (Author), Mark L. Clifford (Author)

Book Description

Publication Date: January 2002

After fifteen long years of dialogue and heated debate, China has at last gained entry to the World Trade Organization. It will take its place among the other member states at the end of 2001. This unique and important book analyses the implications for world trade of this momentous event, as seen by the next WTO's Director-General.

The key sections of the book discuss:
* the effect that accession will have on China as it struggles to meet all the requirements of the WTO
* the future role of the WTO and its current shortcomings
* WTO, Globalization and its Critics - Battle in Seattle, Davos etc
* Implications for the USA, Asia and Europe - the strains that will be placed on the existing order
* shift in the balance of global power as China overtakes Japan and matches the economic power of the US
China's economic growth and its role in the WTO will be in the news for years to come. This book, from the man who will help shape the future of global trade, will be widely reviewed by the global media as Dr Supachai is the first director-general from a developing nation to hold this key position.

China's entry to the WTO is a landmark event in the 21st century. It is a clear signal that China is ready to take its place amongst the global economic powerhouses and that it is prepared to play by its rules. This book, by the next Head of the WTO, explains the importance of this event and its implications for the future of world trade.

Editorial Reviews

Review

The next Director-General of the WTO explores the earthquake that will occur as China enters the WTO and the political, economic, and social implications for this giant country and the world economy.

Review

WTO Director-General designate looks at implications of China's entry to the WTO

Nov 30, 2001 - Come end of this year, China will become the 143rd member to join the Geneva-based Word Trade Organization. Like a bride about to be unveiled at a wedding ceremony, governments round the world await with bated breath to get their first glimpse of this enigmatic newcomer.

What are the implications and challenges for the world trading order at a moment when free trade and the promise of globalization are under extraordinary stress? A new book co-authored by the WTO's future director-general, Dr Supachai Panitchpakdi, China and the WTO: Changing China, Changing World Trade, published by John Wiley & Sons, examines what lies ahead for this populous country and for the rest of the world.

The authors, Dr Supachai Panitchpakdi and Mark Clifford, give a critique of the world trading system and offer suggestions for reforms. They analyze the impact of China's entry into the WTO from Asia's, as well as China's, point of view. China's rapid economic growth holds out the promise of more buoyant growth for the region. With the September 11 attacks causing global political and economic confusion, coupled with Beijing's successful bid for the 2008 Olympics, China is poised to take its place amongst the world's economic powerhouses. But it also gives rise to a potential backlash, as China lures foreign investment away from other countries, particularly those in Asia. On the other hand, China's WTO membership will force it to live up to the standards and requirements of the international body dealing with the global rules of trade between the nations. Challenges lie ahead, ranging from rising unemployment and industrial disruption to much needed political reform and improvements in human rights.

Through these issues, the authors take a step back and ponder the future role of the WTO and its current shortcomings as well the implications of the Chinese entry for the USA, Europe and other parts of the world. Nothing is sacrosanct in the book. The authors don't shy away from the hard issues, such as political reform and human rights, that China must resolve as it continues its long march toward modernity.

China and the WTO: Changing China, Changing World Trade has already won advance praise from 2001 Nobel Laureate in Economics, Joseph Stiglitz, and former US Undersecretary of Commerce for International Trade (1993-95), Jeffrey E. Garten. Mr. Garten notes, "If you want to appreciate the political, economic and social earthquake that will occur as China enters the World Trade Organization, you'll need to understand not only what will happen inside China, but what the implications will be for world trade, the WTO, East Asia, and globalization itself".

Certainly, businesspeople in Asia and the trade policy community would not want to give this important publication a miss.

See all Editorial Reviews

Product Details

• Hardcover: 228 pages
• Publisher: Wiley; 1 edition (January 2002)
• Language: English
• ISBN-10: 0470820616
• ISBN-13: 978-0470820612
• Product Dimensions: 8.5 x 5.7 x 1 inches
• Shipping Weight: 1.2 pounds
• Average Customer Review: 4.5 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #1,896,759 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

16 of 16 people found the following review helpful:

5.0 out of 5 stars An Exellent Report on China and the WTO., April 5, 2002

By 

Peter J. Cassimatis, Professor emeritus of ec... (Eastchester, New York) - See all my reviews

This review is from: China and the WTO: Changing China, Changing World Trade (Hardcover)

In December 2001, China agreed to join the World Trade Organization. According to projections, economic reforms undertaken since 1978 will help China to increase its GDP to $2.2 trillion by 2010, standing behind the United States, Japan and Germany. This progress raises many serious questions for its internal transformation and her role in the global economy.
The book considers carefully the economic, social and political consequences of this event. The phenomenal success of recent economic growth is attributed to high savings rates, protective laws and strong and effective government policies. However, the great challenges facing China to become a truly modern state are institutional reforms for sustained economic growth.
Based on the World Bank's projections, China would become the world's second largest economy in 2020 with 8% of global output, trailing the United States with a 19% share. If this happens, China's skilled workers would also see the world's highest wage gains, nearly a double increase! Consequently, the great challenge China's government and the World Trade Organization will face is to make sure that all levels of society receive a fair share of its economic growth.
Supachai Panitchpakdi and Mark Clifford correctly believe that globalization and trade promoted by the WTO for all nations, many of which are small, are equally important for China as well. Numerous studies indicate that there is a strong correlation between free trade and growth. Finally, it should be recognized, that China's entry into the WTO will dramatically raise the stakes for its Asian neighbors and rivals. It would attract more foreign investment followed by a higher sustained rate of growth and in turn would increase international trade and development and help other countries to develop their economies as well.

4.0 out of 5 stars Insightful!, June 8, 2004

By 

Rolf Dobelli "getAbstract" (Switzerland) - See all my reviews
(HALL OF FAME REVIEWER)    (TOP 500 REVIEWER)    (REAL NAME)   

This review is from: China and the WTO: Changing China, Changing World Trade (Hardcover)

This book is a bit unfocused, but even its tangents are interesting. You get a few pages here on Chinese history, a few pages there of polemic about rich nations' unfair trading practices, here a digression, there a ramble. It's not completely about China and it's not completely about the WTO, though those bases are covered, and the other subjects it touches upon - including Asian regional economics - add to its value. The authors put both sides of the debate over trade in reasonably fair focus. We confirm that what they say about China, while not new, merits mulling over by anyone affected by globalization.

4.0 out of 5 stars Insightful!, October 14, 2003

By 

Rolf Dobelli "getAbstract" (Switzerland) - See all my reviews
(HALL OF FAME REVIEWER)    (TOP 500 REVIEWER)    (REAL NAME)   

This review is from: China and the WTO: Changing China, Changing World Trade (Hardcover)

This book is a bit unfocused, but even its tangents are interesting. You get a few pages here on Chinese history, a few pages there of polemic about rich nations' unfair trading practices, here a digression, there a ramble. It's not completely about China and it's not completely about the WTO, though those bases are covered, and the other subjects it touches upon - including Asian regional economics - add to its value. The authors put both sides of the debate over trade in reasonably fair focus. We confirm that what they say about China, while not new, merits mulling over by anyone affected by globalization.