Many books have been written about the World Trade Organization (WTO) and thousands of unresolved debates have led to anything but a conclusion. China's recent acceptance into the organization has spurred arguments for and against membership, and innumerous speculations on how this will affect the Chinese people in the United States, and Chinese citizens of China. The specifics of the U.S. - China WTO agreement are long, but when we consider some of the major highlights-reduction and removal of tariffs in China, elimination of export subsidies, and expanded market access in agricultural and service industries-it does not take much time to realize acceptance of a new club member may suggest new important consequences for the club.

WTO Defined
The WTO is the legal and institutional foundation of the worldwide trading system. It sets up basic rules and obligations for member nations to follow covering goods, services, and intellectual property. There are currently 139 member nations as of November 9, 2000.

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Peasant farmers now make up more than 80 percent of the country's population. As a result of subsidy cuts and trade liberalization, it will be very difficult for China's small-scale farming to survive competition with global agribusiness corporations.

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WTO agreements include individual nations' commitments to lowering trade barriers and opening up markets, methods of settling disputes, and prescriptions of special treatment for developing nations.

Differing Opinions
From the supporters' point of view, China's entry allows access to a vast market for American corporations since China has the world's largest population. Membership would represent international recognition of China's growing economic power, allowing the nation to play an important role in the development of new international trade rules in the WTO. It would allow China access to the dispute resolution process, reducing the threat of unilateral trade sanctions against China. Finally, it would make it easier for reformers to push liberalization policies if they're able to argue that it's necessary to fulfill China's international obligations.

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