On November 11, after six days' grueling talks, the Chinese and US governments finally reached a bilateral accord on China's access to the WTO, thereby culminating a major step of China in its efforts of over 13 years' negotiations from GATT to WTO. This has won wide acclaim of world opinion. People are generally in the view that China will within a short period of time complete its negotiations with other bilateral counterparts to honor the goal of its entry into WTO.

People in various walks of life in China and the US generally show a positive approach toward the Sino-US accord, accepting it as a win-win bilateral deal. This has also been so with people and governments in many other countries, regarding it as a hard-won result marking the forward march of the world economy. In this sense, the Sino-US bilateral accord is also a multilateral-win deal.

First, for China's large size as the biggest developing country its entry will help build WTO into a genuine world trade organization in name and fact. A view repeatedly expressed by WTO leaders is that that "without China's participation the WTO will be incomplete".

Second, China's entry into WTO will help keep a balance between many and various unstable factors in international trade. World trade will find a more reliable supporting point in China's entry into WTO. China's stabilizing role as such is outstanding as has been seen in recent years in the Asian financial crisis.

Third, China's entry into WTO will mean that it will play a part in helping regulating the "norms of games" on the area of international trade along with a strengthening of position, voice and influence by the developing countries in WTO. This will contribute to a fair balanced new international economic order to be created in the place of present.

Fourth, China's entry into WTO will not only be a considerable stabilizing force in the whole system of world trade it will also play an important part in stabilizing international relations.

Fifth, Sino-US negotiations on China's access to WTO typify the art good at reaching compromises and the dialectics of relationship between mutual benefit and mutual yielding. It is these two that has led to striking a bilateral win-win deal between China and the US. The signing of Sino-US accord will serve as a model for solutions to be found to trade disputes between countries in the future.

China's entry into WTO shows China is going to compete on the arena of world economy. As things are now with today's China in the face of economic globalization, deeply involved in world economic developments, it has no alternative but to join in all world economic competition. It goes without saying competition will bring pressure and impact. But if China keeps away from world economic competition, the country will be deprived of all chances to win new successes in its modernization construction.

At the threshold of WTO, China should stick to the words of Iron Man Wang known to the country's oil industry: "No oil will be had if no pressure is found from the well and this will be also true with us". Facing the oncoming pressure and impact we may also use Lenin's words as guide: "We must go into the battle first and only thus can we know how to win". Looking over the sanguinary path we have traversed in defiance of onslaughts of "foreign goods" on our electric appliances in the past 10 years we Chinese people should have the courage and self-confidence to take part in world competition to wrest new victories in world markets. ( By Gu Ping )