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After fifteen long years of dialogue and heated debate, China has at last gained entry to the World Trade Organization. It will take its place among the other member states at the end of 2001. This unique and important book analyses the implications for world trade of this momentous event, as seen by the next WTO's Director-General.
The key sections of the book discuss:
* the effect that accession will have on China as it struggles to meet all the requirements of the WTO
* the future role of the WTO and its current shortcomings
* WTO, Globalization and its Critics - Battle in Seattle, Davos etc
* Implications for the USA, Asia and Europe - the strains that will be placed on the existing order
* shift in the balance of global power as China overtakes Japan and matches the economic power of the US
China's economic growth and its role in the WTO will be in the news for years to come. This book, from the man who will help shape the future of global trade, will be widely reviewed by the global media as Dr Supachai is the first director-general from a developing nation to hold this key position.
China's entry to the WTO is a landmark event in the 21st century. It is a clear signal that China is ready to take its place amongst the global economic powerhouses and that it is prepared to play by its rules. This book, by the next Head of the WTO, explains the importance of this event and its implications for the future of world trade.
"synopsis" may belong to another edition of this title.
WTO Director-General designate looks at implications of China's entry to the WTO
Nov 30, 2001 - Come end of this year, China will become the 143rd member to join the Geneva-based Word Trade Organization. Like a bride about to be unveiled at a wedding ceremony, governments round the world await with bated breath to get their first glimpse of this enigmatic newcomer.
What are the implications and challenges for the world trading order at a moment when free trade and the promise of globalization are under extraordinary stress? A new book co-authored by the WTO's future director-general, Dr Supachai Panitchpakdi, China and the WTO: Changing China, Changing World Trade, published by John Wiley & Sons, examines what lies ahead for this populous country and for the rest of the world.
The authors, Dr Supachai Panitchpakdi and Mark Clifford, give a critique of the world trading system and offer suggestions for reforms. They analyze the impact of China's entry into the WTO from Asia's, as well as China's, point of view. China's rapid economic growth holds out the promise of more buoyant growth for the region. With the September 11 attacks causing global political and economic confusion, coupled with Beijing's successful bid for the 2008 Olympics, China is poised to take its place amongst the world's economic powerhouses. But it also gives rise to a potential backlash, as China lures foreign investment away from other countries, particularly those in Asia. On the other hand, China's WTO membership will force it to live up to the standards and requirements of the international body dealing with the global rules of trade between the nations. Challenges lie ahead, ranging from rising unemployment and industrial disruption to much needed political reform and improvements in human rights.
Through these issues, the authors take a step back and ponder the future role of the WTO and its current shortcomings as well the implications of the Chinese entry for the USA, Europe and other parts of the world. Nothing is sacrosanct in the book. The authors don't shy away from the hard issues, such as political reform and human rights, that China must resolve as it continues its long march toward modernity.
China and the WTO: Changing China, Changing World Trade has already won advance praise from 2001 Nobel Laureate in Economics, Joseph Stiglitz, and former US Undersecretary of Commerce for International Trade (1993-95), Jeffrey E. Garten. Mr. Garten notes, "If you want to appreciate the political, economic and social earthquake that will occur as China enters the World Trade Organization, you'll need to understand not only what will happen inside China, but what the implications will be for world trade, the WTO, East Asia, and globalization itself".
Certainly, businesspeople in Asia and the trade policy community would not want to give this important publication a miss.From the Inside Flap:
"A comprehensive account of the challenges that China's entry into the World Trade Organization will mean for China and for the WTO at a crucial moment for free trade and open economies." —Joseph Stiglitz, Professor, Columbia University, 2001 Nobel Laureate in Economics
"This is a must read for all those who want to really comprehend what China's accession to WTO means not only for this giant country, but for the rest of Asia and for the world economy. The authors combine a deep knowledge of China and Asia with a unique understanding of the dynamics of international trade to propose a lucid vision of how China's integration should serve as a catalyst to make globalization create a more inclusive prosperity." —Claude Smadja, Managing Director, World Economic Forum
"If you want to appreciate the political, economic and social earthquake that will occur as China enters the World Trade Organization, you'll need to understand not only what will happen inside China, but what the implications will be for world trade, the WTO, East Asia, and globalization itself. This beautifully written book will enrich anyone - layman or expert - on these issues." —Jeffrey E. Garten, Dean, Yale School of Management, Former U.S. Undersecretary of Commerce for International Trade (1993-1995)
"This splendid book goes well beyond the issues relating to the entry of China into the WTO. It offers much wisdom and many insights into all the important problems facing the world trading system as well. It is of particular interest as Dr Supachai is about to succeed Mr Mike Moore as the Director-General of the WTO. After reading this book, the reader will be certain that the succession will leave the WTO with exceptional and informed leadership." —Jagdish Bhagwati, Professor, Columbia University, Economic Policy Adviser to the Director-General, GATT (1991-1993)
"For years to come, this book could become the economic bible for smart business people, serious scholars and governmental leaders not only in Asia-Pacific, but in the entire global community. The two authors have combined outstandingly to put the complex problems created by the inequities of the world trading order into a rational framework for concerted future action and ensure long-term benefits for both the "have-nots" and the "haves"." —Fidel V. Ramos, Former President, Republic of the Philippines (1992-1998)
China is one of the brightest stars among the world's economies. The country's stunning growth since economic reform began in the late 1970s has made China a dramatic advertisement for the benefits that globalization can bring. The country now stands on the threshold of another economic revolution as it enters the World Trade Organization. For the first time in the history of this remarkable country, China will be trading freely with the rest of the world. The world's largest country, with a population of 1.3 billion people, is now open for business.
China and the WTO reveals the key issues affecting China's entry to the WTO:
China's far-sighted open door policies of the last twenty years have resulted in some 200 million people being lifted out of absolute poverty. Yet there are major challenges ahead, ranging from rising unemployment and industrial disruption to political reform and human rights. How China will cope with these issues is of concern not just to China but also for the new world order, as it struggles to come to terms with the demands of free trade and globalization.
This timely book from two of the region's leading commentators lays out in a panoramic sweep, the opportunities and challenges that lie ahead for China and the rest of the world.
About the authors
Dr Supachai Panitchpakdi will serve a three-year term as World Trade Organization (WTO) Director-General beginning 1 September 2002. From 1997 until January 2001, Dr Supachai served as Deputy Prime Minister and Minister of Commerce of Thailand. He has been actively involved in international trade negotiations and played an instrumental role in the drafting of Thailand's major economic policies, including the national economic and social development plans.
During a previous stint as Deputy Prime Minister (1992-95), Dr. Supachai was directly in charge of Thailand's participation in the Uruguay Round of multilateral trade negotiations. Dr Supachai's private-sector experience includes the position of President of the Thai Military Bank (1988-1992) and Chairman of Nava Finance and Securities.
Dr Supachai was born in 1946 in Bangkok, Thailand. He holds a Masters Degree in Econometrics and Development Planning and a Ph. D. in Economic Planning and Development from Erasmus University, Rotterdam. He was awarded an Honorary Degree (Ph.D.) in Economic Development from the National Institute of Development Administration in 1995.
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