One of the initial premises of the chapter worth exploration is the idea that China’s ascension, or joining, of the World Trade Organization is a wholly desirable outcome. As the chapter notes, the admission of the nation of China was a decades-long process, that exhausted a large amount of effort in negotiation between China and the partners of the WTO. Simply, it is understandable for China, or any nation for that matter, to be hesitant in handing over control of defining trade functions between it and other global partners. However, as China recognized like other before them, it is difficult to find proper arbetiers when agreements between nations are broken. The WTO provides such an arbitration stage, allowing the desires of all nations involved to be weighed against one another in a proper manner. And with the sheer volume of trade to and from China, an international trade organization without that nation as a partner would not be nearly as effective a player as others may have been. There is truly a need for the WTO as an arbiter with the very real and colossal force of globalization that has taken ahold in contemporary markets. It is at this point only hypothetical to explore the idea of a modern WTO without the partnership of China, but it may not be a leap to assume that a China-less WTO would be less impactful as a liberalizing force.
PDFPDF