Editor’s note: This year marks the 20th anniversary of China’s accession to the WTO. How did China’s WTO entry benefit global growth? What is China’s role in upholding multilateral trading system? How to create a better world trading system based on WTO? GDToday & Newsgd.com invited global experts to share insights on “China’s 20 years in the WTO”.

On December 11, 20 years ago, China officially became the 143rd member of the World Trade organization, concluding its 15-year marathon of arduous and prolonged negotiations and setting a milestone in China’s reform and opening-up.

Since then, China has realized its commitments and has been “one of the most active WTO members”, said Yves Leterme, former Prime Minister of the Kingdom of Belgium. He believes that China’s integration in the global trading system has “created a win-win situation” for both the world and China itself in terms of economic growth.

“After joining the WTO, it brought standards for international trade”; government and private sectors are balanced and “both today are developing very well in China”, said Rosen Plevneliev, former President of the Republic of Bulgaria.

He expects China to “continue being an honest, open, and fair member of the WTO, fighting for rules and regulations, for free and fair trade”.

“At the moment where multilateralism is challenged, it is really of crucial importance that a big nation like China is now one of the pillars on which the multilateral trading system is supported,” said Leterme.

For Plevneliev, China’s way of upholding multilateralism is the recipe for an ideal world where “all the countries, no matter how big they are, need to stick to the rules and regulations of free and fair trade so that everybody can benefit from that”.

As one piece of the modern multilateral system, WTO is a window to see how multilateralism functions.

On the eve of the 20th anniversary of China’s accession to the organization, we interviewed 9 global influencers to look back on China’s 20-year development and its reciprocity with the world as well as to reflect on the modern multilateralism at a time with unprecedented changes.

Previous reports are as follows.

China trying to be as open as possible

Bert Hofman, director of the East Asian Institute at National University of Singapore and former World Bank Country Director for China, spoke highly of China’s achievements over the past 20 years and believes that China will be “as open as possible”.

In terms of the trade disputes between China and the US, he revealed that “western countries often seem to forget their own history. A lot of the developmental success of western countries comes also from fairly strong state involvement.”

He suggested that the world’s major powers should shift their focus from negative competition to positive competition, where they can compete on offering more vaccines or more funds for infrastructure to developing countries.

For full article and video:

https://www.newsgd.com/node_ee25b9577b/c50e647b70.shtml

EU enterprises confident in Chinese market over political risks

This year also marks 20 years of the founding of European Chamber South China Chapter. After China acceded to the WTO, they saw international trade being restored while “system procedures being facilitated” and intellectual property protection being improved in this country, according to Fabian Blake, Vice Chair of EU Chamber South China.

But they are disappointed at the impact posed by political discord on the EU-China Comprehensive Agreement on Investment (CAI). People need to dissociate political motives with the establishment of business relationship, Blake stressed.

Klaus Zenkel, meanwhile, referred to investment statistics, indicating that “European enterprise leaders have more confidence in the Chinese market than the charge of political risk”.

“We are expecting further development in the next 20 years. It comes with additional reforms and opening up,” said Fabian.

For full article and video:

https://www.newsgd.com/node_ee25b9577b/1b8b51a4fd.shtml

How China’s trade practices ensure fair and free trade?

Five global influencers shed light on China’s contribution to the world trading system and uncover the facts hidden behind the trade disputes between China and the US,

namely Ban Ki-moon, former UN Secretary-General, Danilo Türk, former President of Slovenia, Han Seung-soo, former Prime Minister of Republic of Korea, Vaira Vike-Freiberga, former President of Latvia, and Nicholas Whitlam, Non-executive Director of Crescent Wealth, Chairman of Whitlam & Co, and son of former Australian Prime Minister Edward Gough Whitlam.

Vaira believes that the flexibility China has to adapt its ideology to the existing market economy helps it successfully “fit into the mercantile world system”, and it has not only survived in the system but also thrived in it.

Ban hopes that “China will contribute more in making sure that the WTO really continues to be the organization dealing with fair trade and free trade”.

For full article and video:

https://www.newsgd.com/node_99363c4f3b/0e1ae3192c.shtml

Reporter | Lydia Liu, Jasmine, Keane

Author | Lydia Liu

Graphic designer | Mia

Editor | Keane, Jerry