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CHINA¡¯S ACCENSION INTO THE WORLD TRADE ORGANIZATION
THE POTENTIAL ECONOMIC LEVIATHAN

On November 10, 2001 the world ultimately granted China membership into coveted trade organization, the WTO. Not since Deng Xiaoping¡¯s economic reforms of 1978 has China made such a giant leap toward the creation of a market economy.
¡°The World Trade Organization (WTO) finally opened its door on Saturday to China, the world¡¯s most populous ¨C and one of the most robust ¨C economy, sending a positive signal to the world economy loitering on the brink of a full-blown recession¡± (Xinhua, Financial Times)

With the completion this fifteen year negotiation, China will now be forced to abide by international trade regulations so as to completely open its doors with ten years. WTO membership will provide countless economic benefits to China¡¯s burgeoning economy but the initial adjust period will certainly cause massive unemployment and possible political unrest. With econo...