ABSTRACT
China’s entry into the WTO essentially marked a formal acceptance of the basic principles and basic institutions of market-economy systems that the WTO advocates. This was consistent with the reform objectives established at the 14th National Congress of the Communist Party of China, namely the setting up of socialist market-economy systems. The basic orientation of the WTO, as an international organization, is to further liberalization of trade and investment. In addition to accepting the WTO’s principles of market-economy systems, therefore, China also acceded to a host of commitments with respect to further opening its own trade and investment markets. From the perspective of the international community, China’s accession to the WTO also therefore indicated that China was accepting mainstream international procedures. This made its peaceful emergence onto the world scene and its impact on the world more predictable.
