|
|||
|
|
| back to list |
What are the effect of WTO regulations, and how are they being implemented?WTO accession requirements obligate China to lower tariff barriers, and by the end of 2006, most restrictions on domestic market access will be phased out. The resulting competition for domestic market share will be fierce.Because of China 's regional nature there will be no central interpretation, rather these laws will all be interpreted and implemented by the various regions and provinces in many differing ways. US commerce official praises China 's WTO obligations US Chamber of Commerce official Richard Holwill praised China for its openness and transparency in implementing its obligations to the World Trade Organisation. Richard Holwill of the US Chamber of Commerce made this statement in Beijing , saying he believes trade relations between the United States and China will develop constantly. Holwill said China has sorted out over 2,000 laws and regulations and stimulated new laws after soliciting opinions from foreign companies since it joined the WTO two years ago. He also said he does not think China will dominate the world-manufacturing sector because export-oriented manufacturing only accounts for 20 percent of China 's economy. He denies that China 's economic development will threaten any other country; rather, it will promote global economic development. Holwill said though there are some factors affecting the trade between the US and China , the trade between the two countries will develop constantly. See also section 3 – Bureaucracy. |
| © 2007 China Insight - www.chinainsight689.com - All Rights Reserved. Created by SmartWebby and Powered by PilotCMS |