China’s WTO accession: Impacts on regional agricultural income – a multi-region, general equilibrium analysis

China was finally admitted to the World Trade Organization (WTO) in December 2001 after 15 years of preparation. During this period, China made considerable progress in economic liberalization and reforms, even without being a member of the WTO. The ongoing process of reform is in harmony with the general trend of globalization, in which flows of trade, financial capital, technology, and information across national boundaries have led to, and will continue to lead, to a restructuring of the world economy.