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Essay / Research Paper Abstract
5 pages. China's entrance into the World Trade Organization is going to have international implications on the way that country does business, as well as impacting other countries as well. This paper explains what it means to the business community now that China has been allowed entrance into the World Trade Organization. Bibliography lists 8 sources.
Page Count:
5 pages (~225 words per page)
File: D0_JGAchwto.rtf
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Unformatted sample text from the term paper:
explains what it means to the business community now that China has been allowed entrance into the World Trade Organization. CHINAS ENTRANCE INTO THE WTO In November of 2001
China was finally admitted into the World Trade Organization after having been denied repeated attempts in the past. "After 15 years of difficult negotiations, we finally came to this
historic moment," said Shi Guangsheng, the Foreign Trade Minister to China (Chase and Cernetig, 2001, B1). China is expected to become one of the main entities in the World Trade
Organization, next to the United States and Europe. What this now means for China is that they could possibly see their unemployment rate surge if imports from member nations
are now allowed to flood the market. Some of the advantages of growth and development for China now that they are involved in free trade and globalization through the
World Trade Organization are quite varied. Many advantages can possibly be felt in China now including some of the following: * Energy -
gas, energy services, petrochemical, electricity and equipment markets are now better accessible to developing countries. * Environment - A number of firms and services are able to take advantage
of opportunities involving water treatment, solid waste disposal technology, environmental rehabilitation, hazardous and non-hazardous waste engineering consulting, as well as specialized monitoring services. * Financial Services - Banks, finance,
insurance and leasing companies, and securities firms benefit from free trades far-reaching regulation approach. * Pharmaceuticals - import licenses in most developing countries are removed, as well as all
tariffs. * Telecommunications - barriers that inhibited the telecommunications requirements were to decline in order to offset the developing countrys expected telecommunications augmentation (Anonymous, 2002, PG). There is
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