Economics & Finance / Macroeconomics / International Trade & Globalization

Integrating China into the Global Economy|将中国融入全球经济 入世是一场倒逼改革的豪赌

Integrating China into the Global Economy

Nicholas R. Lardy

Integrating China into the Global Economy (Nicholas R. Lardy) This book explores the process of China's accession to the World Trade Organization (WTO), its stringent conditions, and its profound impact on domestic and international economies. The author points out that prior to WTO accession, China had already achieved initial integration by lowering tariffs and attracting foreign direct investment, forming a dual trade system centered on processing trade. The book details how the Chinese government used international competition as leverage to force the restructuring of inefficient state-owned enterprises and open up sensitive service sectors such as telecommunications and finance. Despite facing discriminatory legal frameworks such as anti-dumping measures and the risk of domestic unemployment, China steadfastly fulfilled its commitments, aiming to improve the overall efficiency of the national economy through full integration into the global production network. The study ultimately demonstrates that China's WTO accession was not only a milestone in China's transition to a market economy but also a pivotal event reshaping the global trade landscape.