Economics Project Abstract
CHINA AND THE WORLD TRADE ORGANIZATION: HOW RECENT ENTRY HAS AFFECTED CHINA'S DEFENSE AND TELECOMMUNICATIONS SECTORS
Presenter:
Sneha S. Kumar, Illinois Mathematics and Science Academy, 1500 West Sullivan Road, Aurora, IL, 60506; sneha@imsa.edu
Advisor:
Mr. Michael DeHaven, Illinois Mathematics and Science Academy, 1500 West Sullivan Road, History / Social Science, Aurora, IL, 60506; 630-907-5889/5960; dehaven@imsa.edu
Abstract:
After 25 years of negotiation, China joined the World Trade Organization (WTO) on December 11, 2001. Trade officials from the United States, Europe, and Japan have portrayed China's entrance into the WTO as an antidote for growing trade deficits. However, rising unemployment, change in political leadership, and disruption within the industrial sector threaten to compromise China's efforts to embrace free trade and globalization. The objective of this investigation was to focus on areas of the Chinese economy which are poised to accelerate in the coming years. Golden opportunities exist for China to become an outlet for foreign investors seeking an untapped market of one billion consumers. Various trade regimes regulated by the WTO will help China grasp the opportunity to become a key manufacturing base for wireless communications products and to export sizeable quantities of military products worldwide. Ultimately, China must take the initiative to become a formidable player in the international arena. This study examined both American and Chinese perspectives on post-WTO-entry of mainland China with an emphasis on interviews with representatives from the U.S. Department of Commerce, Motorola, Eastcom, CETRA, China Mobile, MOFTEC, The China Aerospace Science and Technology Corporation, and The China North Industries Group Corporation.