Opportunities and Challenges.

Essay by cloudgalahad May 2003

download word file, 9 pages 4.3

Opportunities and Challenges


China' National Home Electrical Appliance Industry upon WTO Entry


With the entry WTO, China's national home electrical appliance industry is facing innumerous opportunities and challenges as well as the old nation itself. What's our advantages; where is our opportunities; how to confront our challenges; where is the way out we will discuss them in the following essay.

Key words: WTO, economy, national home electrical appliance industry

After over 20 years of consistent economic and political reform, and 15 years of strenuous efforts and hard negotiations, China eventually succeeded in being formally admitted into WTO at the ministerial meeting held in Qater in November 10. This would lead China's being a full member in early 2002.

No wonder, WTO accession is a historic point, not only to China, "the world's seventh--largest exporter and ninth largest importer in 2000, is willing to abide by the widely accepted international norms on foreign trade, which will help accelerate the county's economic reform process, improve the transparency and predictability of its economic system and enhance its economic efficiency and overall competitiveness"1; but also to the world in large, indicating a upcoming structural adjustment of global.

As pointed by Long yongtu, Chinese chief negotiator, "the outcome of China's accession to the World Trade Organization (WTO) will be marked with the feature of a "win--win" and "all--win" for China and the world as well."2

Chinese enterprise will benefit from improved access to foreign market and from gaining new technologies and management skills through increased contacts with foreign companies. Meanwhile, foreign companies protected by the WTO's principles of non--discrimination, will gain from this more open large market, from the unprecedented business opportunities.

Then what impact China's national home electrical appliance industry upon its WTO entry?

First of all, let's take a look at...