Trade Liberalization in China's Accession to the World Trade Organization

Elena Ianchovichina · Will Martin

Jan. 2001 · World Bank Publications

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China's forthcoming access to the World Trade Organization involves reform in many sectors, both domestic and trade-related. The starting point for reform is a partially reformed economy with relatively high import duties, in which export sectors benefit from liberal duty exemptions on inputs. Both China and its major trading partners will gain from access - with China gaining most (perhaps half of the estimated $56 billion in annual welfare gains). Some developing countries will suffer small losses because of increased competition from China. The adjustments required are greatly reduced by China's dramatic liberalization in the 1990s.