ABSTRACT
The saying that timing is everything is particularly apt – even if somewhat dismal – in trying to assess the impact of China’s accession to the WTO. If China had joined the GATT in the 1980s, the negotiations would have centered on traditional trade issues or border barriers. The negotiations would probably have been difficult but since China was well embarked on a reform policy, including trade liberalization which would have been facilitated by GATT accession, the impact on China and the trading system would have been, on balance, welfare enhancing.
