The Impact on the Automobile Industry in China after Joining the WTO Essay

The Impact on the Automobile Industry in China after Joining the WTO - Essay ExampleIn the end, the entre of China into the WTO was considered a positive thing by most, although there are certainly those with contradictory opinions. The efficient qualities that China gained by entry into the WTO an aid to the prudence, and the opening up of Chinas markets for more world-wide trade and investment (to name a few).The aim of this paper is to discuss more thoroughly on these points and more, and to offer a more in-depth and comprehensive point of view on the situation of the impact on the automobile industry in China after Chinas accession into the WTO.Since the beginning of stinting reform and its opening to the outside world, Chinas economy has been growing at a post of nearly 10 percent annually and its external trade has expanded by more than 15 percent a year. In 1999 Chinas trade volume reached $360.7 billion, ranking 9th in the world, with exportation volume reaching $195 bil lion. China has emerged to become an important player in world trading system. (Zhai & Li, 2000).Negotiations everyplace Chinas accession into the WTO immediately provoked a debate between pessimists who believed that opening the economy would lead to a flood of imports and a de-nationalization of manufacturing industry, and those who believed that it would spur rationalization of state-owned enterprises, lock in domestic reforms, draw out foreign investment, and open the way for trade expansion. (Noble et al).The aim of this paper is to thoroughly realize and discuss these interests and more, in order to come to a clearer and more understanding point of view on the particular situation. In order to do this, the following questions must be addressedThe WTO (World Trade Organization) is an organization which consists of 123 signatory countries. realized on January 1, 1995, and based in Geneva, the WTO replaced the GATT (General Agreement on Tariffs and Trade) as the most primary l egal and institutional foundation among the