Why is China Allowed to STILL be part of the WTO???

[GHook93]

The mission of the WTO is to promote trade between means while insuring the members utilize fair trade practices. The advantage of WTO membership increases trade for the country enormously. It has greated a boom for China. America, along with EU, follow the restrictions set by the WTO, but China (along with Korea) have overtly ignored them and basically broke all their promises! Nevertheless, China can still reap all the advantages of WTO membership, but not even come close (or even attempt to reach) any of the WTO's high standards! WTO!

China's WTO Entry Has Been A Failure For U.S. | Economy In Crisis
Nine years after entering the World Trade Organization, China has failed to live up to its commitment to transition away from a state-directed economy to a more market-based approach. Due to increased trade with China allowed by its entry into the WTO combined with their trade distorting policies, the U.S. trade deficit with the Asian giant has exploded since then.

"Predictions of a more balanced trade relationship between the two countries as a result of China's entry into the WTO have proven false," the commission said.

China uses a slew of trade distorting practices to ensure that the economic relationship with the U.S. is far from balanced.

One of the most obvious ways in which China games the system to ensure that it holds a surplus with the U.S. is through the manipulation of its currency, which some believe is undervalued by as much as 40 percent.

To gain an advantage in the alternative energy sector, China restricts the export of rare earth metals, which are vital to the production of a whole host of alternative energy products and components.

"China protects many domestic industries through an increasingly restrictive investment regime and export restrictions," the report says.

Indigenous innovation, which the report refers to as a restrictive investment regime, encourages the transfer of crucial technology and the outsourcing of production. By requiring that all domestically procurement products contain a certain percentage of Chinese-made goods, companies are forced to move production there to enter the lucrative market.

The commission, which was created in 2000 to monitor the rise of China and report to Congress, is not nearly as concerned about China’s U.S. debt holdings. Some have suggested that China could dump the dollar, sending its value plummeting. That, however, is a highly unlikely scenario, according to the report

 

[loosecannon]

This is much more complicated than it seems:

>The WTO has strict, complicated and regimented policies

>it is likely that abuse of the rules is rampant, the US may even be the biggest offender, or not

>the WTO rules may have been rigged to serve some more than others

>the WTO hasn't singled out China as a problem

>I certainly don't know nearly enough about this to wager a pov

>until I hear from somebody who does know enough I ain't biting

 

[uscitizen]

The USA does not abide by all of the fair trade practices either.

 

[Epsilon Delta]

The WTO is mostly a big sham by developed countries to prevent developing countries from using the SAME EXACT strategies that developed countries used to develop, in the name of "free markets" and "efficiency" that of course, every country that has ever developed totally balked at during their own process of development.

The fact is that countries that can do so break the rules all the time. On the one hand places like America and Britain force their copyright bullshit on the developing world, but when it comes to totally distorting agricultural prices through massive subsidies to their fat-cat farmers, OH. OH NO. THAT WE CAN'T TOUCH!!! THAT'S DIFFERENT 'CUZ WE DO IT.

Of course, at the same time the big emerging countries are in the process of joining The Big-Boys' Club, and so they can do whatever the hell they want to. AND how? How are places like China, Brazil, India, or Russia actually joining (or re-joining) the big-boys club? By playing with the big-boys' rules, with industrial policy, intervention in key sectors, industrial espionage, manipulation, etc. Basically with most of the thing the WTO goes against.

DO AS I SAY!