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People's Daily Online>>Opinion

China's accession to WTO worth celebrating (2)

By Pascal Lamy  (China Daily)

13:31, December 12, 2011

While the gains to China of membership in the WTO are clear, there is a tendency sometimes to forget how much China's trading partners have also profited. China is now the world's second largest importer and imports have risen nearly six times to $1.4 trillion since the accession. The Chinese market has become one of the most important in the world for many exporting nations, including the United States and Brazil.

But as it develops, China is also facing important challenges such as regional and income distribution imbalances, the need for stronger social safety nets, environmental degradation and an aging population. It is also working to achieve more balance between external and domestic demand and a better protection of intellectual property.

Just as China faces these challenges, the global trading system is also being severely tested. The delay in concluding the Doha Round is raising doubts about the WTO's capacity to deliver further trade opening and global trade regulation.

Looking into the future, as a key member of the WTO family, China's role and influence will be vital in our collective endeavor to advance trade opening and global trade regulation.

And this in turn is linked to the continuation of China's reform and opening-up process. Anchoring in WTO further reforms of China's services sector or further opening of its procurement markets can bring welfare gains and can help sustain China's growth for the next decades. China can also provide tremendous opportunities of growth for other countries. Because growing together is more stable and sustainable than growing alone.

The WTO offers a stable, transparent and predictable environment in which trade can flourish. Certainly, this has been of benefit to China, and hopefully there is still more to come.

The author is director-general of the World Trade Organization.

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Nic at 2011-12-13175.141.36.*
China has to get a foot-hold to start a one-thousand-mile journey to prosperity. So far all goes well and it"s a cause for celebration.The next step is of course to look inside and re-examine itself to see if anything goes wrong or if things could be further improved. These, I"m sure China is doing it.Black cat or white cat, the one which catches the mice is a good cat. But, don"t rest on your laurels, face the challenges ahead and like Chinese Kung Fu,use all your resources and "BEAT IT".
Liang1a at 2011-12-1298.177.138.*
The day China joined the WTO is a day of shame. It harms China"s long term interest by selling out China"s domestic economic assets and turn China into an economic colony dominated by China"s former enemies who are still encircling China and occupying China"s sovereign territories. It has also created social inequity and endangering China"s security by creating a new comprador bourgeoisie class who are bought and pid for by China"s former enemies and who will ultimately turn traitor and sell out the motherland to its enemies.

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