chapter  10
8 Pages

China’s Employment and WTO Accession

WithJu-Wei Zhang

China's sustained economic growth over a long period has brought tremendous new employment opportunities. The information and telecommunications industry is also facing the most severe challenges since the new technological revolution. China now is the biggest telecommunications market in the world and is growing rapidly. The contribution of economic growth to employment in primary industry resulted in a pool of surplus labor. The most significant comparative advantage in China lies in its huge labor force and lower labor costs. With China's entry into the World Trade Organization (WTO), the optimum allocation of resources worldwide could make China a center of manufacturing in the world, providing a very sound foundation for China's sustainable economic growth over a relatively long period. According to the rules of the WTO, opening either factor markets or product markets will have the strongest impact on secondary industry.