1. Chinese Economic Challenges to the World Trade Organization: Separating Myth from Reality
- Author:
- Umbreen Javaid and Muhammad Sharreh Qazi
- Publication Date:
- 01-2016
- Content Type:
- Journal Article
- Journal:
- South Asian Studies
- Institution:
- Department of Political Science, University of the Punjab
- Abstract:
- China has taken the world with a different angle; an angle that kept China mostly behind its conservative mercantilist restrictions and access to foreign investors largely remained actively initiated. Even though China was admitted to the World Trade Organization (WTO) in 2001, and remained an observer to the General Agreement to Tariff and Trade (GATT), cost of receiving membership meant extreme modifications to Chinese system of economy. Modifications that required China to allow access and tariff concessions to global community and demanded Chinese nationalist mercantilist designs to be affable to international standards. This however, never meant that China would stop expanding, or at least take a recess from its economic augmentation. WTO quickly saw China rise to a point where even though it remained compliant to international economic norms, it still remained a formidable rebel to set patterns, tacitly compelling WTO and other international economic forums to feel impractical, if not impotent. Chinese economic investments, together with its dominance on international relations, has often raised questions on its intentions into becoming a member of WTO. It is often miscalculated that China intends to implode WTO from within by introducing a change in the international economic system through sheer pressure or somehow, China is strategizing to manipulate WTO as a nascent member in order to introduce another form of global competition against members that are already in antagonism towards China.
- Topic:
- International Trade and Finance, Political Economy, World Trade Organization, and Soft Power
- Political Geography:
- Pakistan, China, South Asia, Asia, and Punjab