Changing times demand bigger role in WTO
He Ning, former head of the Department of American and Oceanic Affairs, Ministry of Commerce |
The benefits of free trade rules
That other WTO members started treating it as equal is one of the greatest benefits China got by joining the WTO. In other words, WTO rules regulate not only China's policies toward the other members, but also the latter's policies toward China. In many cases, these rules have helped China avoid becoming the victim of the domestic policies and politics of some Western countries.
In 2005, US senato Chuck Schumer accused China of "currency manipulation" and moved a bill to levy 27.5 percent tariff on all Chinese products exported to the US. Had that bill been passed, it would have spelled disaster for Sino-US trade because products labeled "Made in China" would cost 27.5 percent more in the US. The move sparked fierce discussions in the US, and Schumer was eventually forced to withdraw the bill, because it was against the multilateral rules of the WTO.
It was a typical case of the WTO rules helping China avoid antagonistic measures of Western countries. Western countries could not pass such bills targeted at China, because they were not in accordance with the WTO's rules. Of course, China too has to follow the rules, so as to maintain a good trade environment for all.
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