Thursday, December 15, 2011

WTO: Ten Years with China

China has been a member of the World Trade Organization for ten years. Membership in the WTO has provided a great engine for Chinese economic growth, while China continues to skirt many WTO regulations.

China offers many advantages to nationalized companies that include: free land, low loans, cheap electricity, sneak peaks at government regulation, and bid rigging that make it hard for foreign companies to offer meaningful competition in China…foreign competitors claim.


Piracy is a huge problem within China making any company who dares to do business there face a losing proposition because why buy the genuine article at full price when a pirated version can be had for a significant discount?

Membership in the WTO has been a boom for China, but at what cost to the international order of global trade? If global trade has a huge benefit for some countries, while being a money pit for others, can it really be called global trade or highway robbery?

International corporate types have made a bargain with the dragon for profit that will eventually prove to be a loser.

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