WTO

Currently, the World Trade Orginisation (WTO) is in the process of negotiating the issue of The People’s Republic of China’s accession into WTO as a member. China’s accession would expect to see flow of advantages to China as well as the rest of the world.

China would undertake legal obligations to provide most favored nations (MFN) treatment to goods and services for all WTO members, to treat imported and domestically produced goods equally, abolish quotas and preserve intellectual property rights. Investors would also enjoy better surety of low tariff rates and is rest assured that it would not change in the short run. As more people are willing to invest in that country, China would be expected to have a wider selection of goods and services. Following the lowering of trade barriers (e.g. tariffs), the citizens of China would also have the chance to acquire goods, bith domestically produced and imported, at lesser cost and thus, allowing them to purchase more for their...