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China and the WTO Chinas Challenge Introduction The September 11 2001 terrorist attacks on the World Trade Center and the Pentagon is a somber lesson to remind the world of how important it is to get globalization right Now its clearer than it has been ever that the world is split between those who benefit from the increasing wealth and openness of globalization and those who oppose and intend to destroy globalization The difference of two beliefs will mean a world of increasing trouble ranging from environmental degradation to political instability to terrorism Few places matter more in the debate over globalization than China Less than a week after the terrorist attack on US China passed an important milestone in its development one that was unnoticed as the world struggled to understand and respond to the terrorism On September 17 in Geneva the World Trade Organization WTO agreed on the final terms for the country to join the international trade body Entry into the WTO is the most significant event since China began economic reforms a quarter-century ago WTO membership coupled with the awarding of the 2008 Summer Olympics to Beijing in July 2001 will help China reclaim a place on the world stage that it has lost in the last two centuries Why China Needs To Be In WTO The rest of the world wonder if China truly deserve its membership at WTO The worry in which the rest of the world regards Chinas entry into the WTC is quite and irony Chinese officials and companies are every bit as afraid of what WTO membership will mean for them as the rest of the world There are many good reasons for Chinese to be uncertain about what the WTO membership will bring Chinas homegrown enterprises worry
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