Despite China’s international trade have expanded rapidly since it joined the WTO eleven years ago. An increasing number of trade disputes have posed a great challenge to Chinese exporters. In an effort to bring more stability in its exports. China’s central government has introduced several measures over the past few years.
Among other changes it requires faster payments of rebates on export taxes and asks for more money to be lent to exporting firms to open up financing channels.
Moreover, Professor Tu said it is vital for major players on the international stage to grant China its market economy status.
Tu Xinquan said, "Personally speaking, I feel that the discrimination towards Chinese firms is growing among the EU and US. The main reason is the increasing competitiveness of Chinese enterprises. I think it will take some time for western countries to accept the nature of China’s market economy status. Meanwhile, international trading rules are mostly made by the developed western players, so better need to learn more and adapt itself more promptly into world trade."
China’s WTO Accession Protocol says that transitional provisions will terminate within three years. Experts say against the backdrop of a gloomy global economy, the damage done to China through further procrastination by the EU and US would be trivial compared to the problems that could be posed by the rebalancing of the global economy.
Cumquat market in S China's Guangxi
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