Case Study on WTO and China's Economy (Volume 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 profound consequences. These consequences go beyond the welfare gains brought by comparative advantage, presenting phenomena that traditional trade theory cannot explain; they also extend beyond the scope of trade dividends, affecting China's institutional arrangements, the institutional arrangements of its trading partners, and the international trade order. Political economy and institutional economics methods are required to explain these consequences. Sheng Hong's Case Studies on 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 research project outlines the significant changes in trade rules and their impact on China's economic and legal systems. It strives to reveal the evolution of efficiency and interest structures in different economic sectors since China joined the WTO, how enhanced economic interactions with other countries have led to changes in China's institutions and international economic rules, and the pros and cons of these transformations. These cases and their economic implications can not only contribute to theoretical advancements in economics but also provide recommendations for institutional and policy improvements.