Americas Role in the World Trade Organization Debate Over China Essay

America's Role in the World Trade Organization Debate Over China The open question on Chinese accession, both in the WTO and in China itself, is whether China is more likely to adopt and sustain economic reforms if it is granted early membership or if membership is delayed until policy reforms are undertaken. (Schott 40, 1996) I. Introduction This observation from Jeffery Schott of the Institute for International Economics captures the essence of the China-World Trade Organization debate in America and the world today. China’s unprecedented economic growth has put it at the forefront of the US trade agenda. America’s is the biggest economy and China’s is the most populous nation, in terms of sheer number of people. To conjoin these two great international forces in a more complete way than the previous, bilateral agreements have would be of immeasurable value to both countries. Just in the past two weeks, China and the United States concluded their much-anticipated bilateral trade agreement, which paves the way for China’s accession intro the WTO. Concurrently, the United States has some domestic issues to resolve regarding its trade relationship with China before China can become a universally accepted member. The organ that embodies this global trading order is of course the World Trade Organ ization, or WTO. As we will see in greater depth later in this paper, the United States has a crucial, one could say pivotal, role in allowing China to be totally accepted into the world economy. Underlying all these discussions of politics and legalities, there remains the premise that both the United States and China are eager for China to become an equal, active participant in the world trading system. Both are poin... ...Uruguay Round. Geneva: World Trade Organization Grow, Roy and Burton Levin and Al Porte and Robert White. 1998. "United States-China Relations in the Twenty-First Century" The American Assembly at Columbia University Haass, Richard and Nicholas Lardy. 1997. "The United States and China" A New Framework." Brookings Institute Lardy, Nicholas. 1997. "China and the WTO" Brooking Institute Robertson, Jack. 1999. "China is on slow boat to the WTO." Electronic Buyers’ News Issue 1184, page PG4 Schott, Jeffrey. 1996. WTO 2000:Setting the Course for World Trade. Washington, DC: The Institute for International Economics Smith, Adam. 1981 [1776] .An Inquiry into The Nature and Causes of the Wealth of Nations. Indianapolis, IN: Liberty Fund The Wall Street Journal, November 16, 1999. The Dow Jones Company