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China's Entry into WTO to Accelerate Western Development
China's admission into the World Trade Organization will accelerate the pace of developing western China, a noted Chinese economist said in Chengdu on Friday.
Xue Rongjiu, president of the WTO Research Society under the Beijing-based University of International Business and Economics, outlined three reasons to speed up western development in a paper delivered at the Western Forum of China opened in Chengdu Friday.
First, when China becomes a WTO member, the country will have a more favorable environment to implement the strategy of developing western China. The discrimination China encounters in bilateral trade will be alleviated. Foreign investors to China will have full confidence in investing in China.
Secondly, the macro economic environment China enjoys when it enters the WTO will help it solve a number of protracted problems in terms of economic structure, investment, technology and market.
Thirdly, it is possible for China to draw on the experience of other developing WTO members in regional economic development.
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