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Essay / Research Paper Abstract
This 4-page paper describes how China's business environment is likely to change with its accession into the World Trade Organization (WTO). Topics discussed include economic growth, Foreign Direct Investment, employment, quotas and exports. Bibliography lists 3 sources.
Page Count:
4 pages (~225 words per page)
File: D0_MTWTOchi.rtf
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Unformatted sample text from the term paper:
on worldwide economies. Also important for consideration however, has been the impact of WTO ascension on the Chinese business environment. There is little doubt that Chinas entering the
WTO will have a huge impact on this countrys business and economic environments. For one thing, Chinas accession has meant subsequent entry
of foreign financial institutions into the country (Yifu Lin, 2001). This has meant therefore, that currently there is a strong competitive pressure on Chinas financial sectors - sectors which have
been inefficient because of the governments tendency to intervene when an institution has been in trouble, and to execute a bailout in order to prop up the failing institution (Yifu
Lin, 2001). Experts have predicted that Chinas WTO status now means that the government, in order to conform to membership rules and regulations, is more willing to pass and adopt
policies that adhere to a market economy, rather than one run by the government (Yifu Lin, 2001). In other words, no more bailouts of weakened financial institutions.
No longer will the financial community in China be overseen by only one bank (or even four banks as it was since the 1979 reforms)
-- the Peoples Bank of China, which at one time was not only the financial institution of the country, but also served as the central bank as well as providing
commercial banking services (Yifu Lin, 2001). The new rules and regulations to be followed by the banking industry will be greater transparency and more efficient accounting measures as well
(Yifu Lin, 2001). Because of WTO membership, China will experience a surge in banking business because of increased demand for banking services and more financial stimulation due to investment and
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