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The China Factor

What is to be expected when China joins the WTO?

May 22, 2000

What is to be expected when China joins the WTO?

Six years ago, the great fear in Washington was that a free-trade agreement with Mexico would result in economic ruin for U.S. corporations. Nevertheless, Nafta did pass into law in the U.S. Congress. And far from wrecking the economy, the United States has enjoyed six long years of rapid economic growth and prospering companies. Now, a similar debate centers around the expansion of trade with China. The Globalist’s selection of key quotes reveals what is really at stake.

What do some Chinese think about their country’s rapid evolution in the global economy

“China is like America at the turn of the last century. It is in the midst of an economic and a technological revolution.”

(Chinese entrepreneur, June 1998)

How will China shape the 21st century?

“One of the biggest question marks of the 21st century is the path China will take. Will China emerge as a partner or an adversary?”

(U.S. President Bill Clinton, May 2000)

Did China get a head start?

“China has embarked on an extraordinary voyage of change. It has telescoped into one generation what other countries took centuries to achieve.”

(World Bank’s 1997 report on China)

Why does China appear to be impatient?

“They want the world to make room for them at the top. They don’t want to wait.”

(Jeffrey Garten, former U.S. Undersecretary of