Asians hopeful new tiger will boost economy
Tuesday 16 November 1999
Economists said it was the most significant step forward in China's economic reform programme since the last big policy measures were announced by Deng Xiaoping in 1992. The agreement, although yet to be ratified in the United States and elsewhere, commits the government to further reforms and opens up the prospect of a period of rapid, catch-up growth in China.
The birth of a new Asian tiger, conceived through China's public commitment yesterday to the global market, would be a neat finale to the financial crisis that started in Asia two years ago. The agreement on WTO membership is more than that, however.
While extremely unlikely to be ratified in time for the annual ministerial meeting of the WTO in Seattle at the end of this month, China's decision to seek membership is an important boost for the embattled organisation. Negotiators are seeking to launch a "millennium round" of talks to liberalise trade further, but experts fear there is too little common ground for a fresh trade round. Not only are there rows brewing between Europe and the US over agriculture, there is the danger that developing countries might walk out over what they see as protectionism on the part of the rich countries.
The China deal means theWTO meeting will have at least one bit of good news.
That might just be enough to keep up the momentum of trade liberalisation even if the concerns about the negotiations prove well-founded.
- 1 The difference between a migrant and refugee, in one sentence
- 2 Miley Cyrus calls out hypocrisy of women’s nipples being taboo
- 3 Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
- 4 iPhone 5c to be discontinued, no iPhone 6c to replace it
The difference between a migrant and refugee, in one sentence
Spain accused of 'provocation' after letting Russian submarine refuel off Gibraltar
Allonautilus scrobiculatus: World's 'rarest' creature spotted for only the third time ever
Miley Cyrus calls out hypocrisy of women’s nipples being taboo
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Labour leadership: Jeremy Corbyn accused of 'deluding' young supporters with 'claptrap'
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Iain Duncan Smith calls for urgent ESA overhaul as part of drive to cut down welfare costs
£18000 - £30000 per annum: Recruitment Genius: A Sales Executive or Senior Sal...
£40000 - £55000 per annum: Recruitment Genius: This is an exciting opportunity...
£22000 per annum: Recruitment Genius: This industry leading company produces h...
£20000 - £40000 per annum: Recruitment Genius: This IT provider for the educat...