WTO and China's Economy: Case Studies - (Issue 1)

Author: Sheng Hong
Publisher:
Publish Date: 2007-01-01
Features: China's entry into the WTO is not only an affirmation of free trade theory but also breaks the original balance of the global economic system, bringing a series of far-reaching consequences. These consequences go beyond the welfare gains from comparative advantage, giving rise to phenomena that traditional trade theory cannot explain. They also extend beyond the scope of trade dividends, affecting China's institutional arrangements, those of its trading partners, and the international trade order. Political economy and institutional economics methods are required to explain these consequences. The author's Case Studies of WTO and China's Economy is the final outcome of a large-scale research project jointly organized by the Beijing Tianze Institute of Economics and the International Economics and Management College of Shanghai University. Through the exploration and description of specific cases, the study outlines the significant impact of major changes in trade rules on China's economic and legal systems. It strives to reveal the changes in efficiency and interest structures across different economic sectors since China joined the WTO, how enhanced economic interactions with other countries have led to shifts in China's institutions and international economic rules, and the pros and cons of these changes. These cases and their economic implications can not only contribute to theoretical advancements in economics but also provide recommendations for institutional and policy improvements.