...The University of Nottingham, Ningbo, China Division of International Business China and the World Trade Organization P13608 Module Outline Module Convenor: Dr Chieh Huang AB Room 379 chieh.huang@nottingham.edu.cn Office hours: Monday 10:30-12:30 10 credits TB329 Tuesday 2-4 PM 10 weekly two-hour lecture/seminars The course is taught by way of lecture/seminars which are two hours in length. The form of the lecture/seminars will be flexible, depending on the topic under consideration. Students are expected to participate fully in discussions in lecture/seminars and to have read all the set Essential Reading before class. Credits: Lecture Venue and Times Method of Delivery & Frequency on Class: Method and Criteria of Assessment: 100% Coursework (5000 words) Essay Submission Deadline is 4pm, Wednesday 27 November 2013 Topics: Please choose one area listed below and discuss its recent development in the context of China. You will need to narrow down your focus and set your own essay topic. 1. 2. 3. 4. 5. Non-market Economies in the WTO Energy Industry and the WTO Environment and the WTO Commentary on one WTO case involving China Self-selected topic upon approval (You are most welcome to decide a topic yourself. Once you decide to do so, however, you need to submit your topic and an one-paragraph abstract before 4pm 31 October. ) Module Aims: To give the students a broad knowledge of the multilateral trading system and China’s interaction with that system through...
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...How disputes are settled in World Trade Organizations (WTO) The countries can settle their disputes themselves at any stage, but these are the procedures that are usually followed:- 60 days Consultations, mediation, etc. 45 days Panel set up and panelists appointed 6 months Final panel report to parties 3 weeks Final panel report to WTO members 60 days Dispute Settlement Body adopts report (if no appeal) Total = 1 year (without appeal) 60-90 days Appeals report 30 days Dispute Settlement Body adopts appeals report Total = 1y 3m (with appeal) • Consultation & Mediation (up to 60 days). This is when the countries that are in dispute come together and try to reason better each other and settle their differences. And or ask the World Trade Organization director- general to intervene or mediate to try help them in any other way. • The panel (up to 45 days for a panel to be appointed, plus 6 months for the panel to conclude) At this stage the complaining country can ask for a panel to be appointed, the other country can block the creation of a panel once but when the dispute settlement body meets for a second time, the appointment can no longer be blocked. • Officially, the panel is helping the Dispute Settlement Body make rulings or recommendations. The panels conclusion are difficult to overturn and only can be rejected by consensus in the dispute settlement body. The panel’s conclusion have to be based on agreements referred to. According to the wto.org site,...
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...words NOTE: UNITED STATES-CHINA TRADE WAR: SIGNS OF PROTECTIONISM IN A GLOBALIZED ECONOMY? NAME: Kara Loridas LEXISNEXIS SUMMARY: ... Among the aims of the Doha Development Round are a rejection of protectionism and an attempt to ensure fair application of trade rules to developing countries. ... China argued that the increased tariffs imposed by the United States on Chinese tires exceed the permissible maximum tariff rates that the United States may impose on Chinese imports. ... An example of effective negotiations is the settlement of the U.S. complaint alleging a Chinese violation of the national treatment concept by its preferential treatment of domestic products over "like" imported products. ... Cooperative trade relations between the United States and China are important to the global community because the economies of each country are dependent on the rest of the world and the global economy will be harmed by protectionist measures from the first and third largest trading powers. ... Moreover, multilateral negotiations, as opposed to bilateral trade negotiations, are better suited to resolve the United States-China trade disputes because the disputes affect other WTO members in ways beyond the immediate economic impact. ... The most effective way to combat the rapid escalation and retaliatory nature of the disputes is to conduct multilateral negotiations that will preserve the WTO's goal of reducing trade barriers, avoid the adversarial nature of WTO litigation, and allow...
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...Current situation analysis after China’s accession to WTO Introduction Since the reform and opening-up policy operated in China in 1978, China has already experienced a process of economic development and international trade improvement. In the early 1980s, China had tried to take several steps to end its economic isolation condition. After that, accompanying with the accession to WTO, China had received a new tide of development no matter in the field of economy or world trade. It has no doubt that China’s accession into WTO would bring about tremendous changes in China’s economic performance. Known as “World Trade Organization”, WTO is one of the most important international economic organizations and also a platform for ideas’ negotiation among different countries. Currently WTO has 159 members and is regarded as the "Economic United Nations”. China has joined the World Trade Organization as the 143rd member of it. From then on, China has made a significant economic improvement in foreign and international trade area, whereas, it also has brought some problems underlying the surface economy boom. And as some experts’ sayings, the disadvantages are far more than the advantages that WTO has brought along these 12 years’ development based on the analysis on the current economic environment, which has also been a challenge to China’s economy and future development from my point of view. The benefits that WTO has brought into China As some experts’ saying, China’s accession...
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...Positive Impacts Of WTO On Chinese People's Daily Life 【Abstract】Joining the WTO brought many effects to our country, both advantages and disadvantages. These effects embodied in all aspects of economic, political, and People's Daily life was all affected. This paper is to discuss the positive impacts of WTO on Chinese people's daily life. By analyzing the obviously changing in our daily life, this paper will give a conclusion about positive impacts. 【Key Words】 WTO; People’s Daily Life; Chinese 1. China and WTO On December.11, 2001, China has become the WTO's 143th formal member. The Chinese people are very proud to join WTO, because that means our economy has become one part of the world economy and Chinese people could know more about the world form then on. In a world, we become closer to each other. China's market been expanded, but People's employment and daily life is facing new opportunities and challenges. To this, some people think that after joining the WTO there will be more opportunities, some people think that our life might be hampered and we even have to change the way we live. However, think about the good side, China entry into the WTO, brought many benefits to Chinese People's Daily life. 2. Positive impacts of WTO on Chinese People's Daily life 2.1Employment opportunities are increased International unemployment and employment commission and China international development of talent exchange association’s survey shows that there will be...
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...With China’s GDP growth still hovering around 9.1% YOY, American companies are continuing to set up factories and look into China to boost profits. All-American companies such as Apple and the Gap are expanding into Mainland China to take advantage of cheap labor. In 2009, US foreign direct investment was north of $3.6 billion dollars from $2.8 billion in 2008. However, US companies are still facing issues with piracy and intellectual property rights once setting shop in China. Assistant Secretary for the Economic and Business Affairs Jose Fernandez said, “One US Company was the victim of Chinese hackers who stole technology that costs $1 billion and 20 years to develop. After theft of its technology came to light, another company lost 40% value in a single day and *4% within five months.” US companies have seen their businesses go from millions to zero in a matter of a few months. Inadequate protection of these issues will continue to cost US firms and employees billions of dollars each year. One recent case that has hit the US officials is the creation of 22 illegal Apple stores that resembles an Apple store that sells counterfeit products. Often, US firms specializing in biotechnology, nanotechnology, and telecommunications are major piracy targets. Before the technology even hits the production line, another Chinese business has copied and boxed cheaper versions of the same product. Washington and Obama have been hounding Chinese officials to buckle down on copyright infringement...
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...Impact of China's WTO Entry on Sino-Philippine Economic Relations and on the Philippine Economy SHEN HONG FANG impact of China's WTO entry on trade, investment and services between the Philippines and China, as well as on Philippines economic growth and development. Section I introduces different analyses of China's WTO entry from the perspectives of Philippine official, academic as well as business circles. Section 2 discusses bilateral cooperation through trade, investments, and other forms of cooperation such as contracted projects, labor cooperation, air services agreement, and the development of agricultural technologies. Section 3 looks at the concerns of the Philippine government and the public with respect to China's accession to the WTO, reviewing the state of current relations and comparing this with China's relations with other Southeast Asian countries. Section 4 advances five issues pertaining to the rise of a Chinese "economic threat" following its entry into WTO. The paper concludes that China's WTO accession will help promote bilateral trade expansion, and bring about opportunities for Chinese private entrepreneurs to invest in the Philippines. However, China's WTO entry will also put added pressure on Philippine manufactures, further facilitating the flow of Chinese commodities, capital and personnel and aggravating the disputes that had already existed in the economic intercourse betv•.reen the two countries prior to WTO admission. This paper examines...
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...1. In the Xia case, if the WTO were to rule in favor of Brazil, which of the WTO trade agreements would contain the justification and why? Brazil banned Xia goods because they manufactured from harmful ingredients. These goods might be caused of health issues. However, the Chinese government refused this claim. If WTO were to decide for Brazil, it would be a justified basis of Technical Barriers to Trade Agreement (TBT). In this agreement, the privilege of Members to take administrative measures to accomplish its objectives such as national security, human health safety animal health and environment protection. The TBT agreement applies to Technical regulation, which is measured that the features of the product and the manufacturing process method. Standards body follows the rule and regulation and measure that the product should be approved or not. The procedures for conformity assessment use to evaluate that the all requirements has fulfilled by technical regulation and standard or not. These measures apply to protect human, animal and plant's life. It stated that the Xia goods have health risks, so it was justified that temporary ban to import till it was provided the proof that the goods are free of health risk. 2. If the details of the Xia case were indeed presented to the WTO, explain what the WTO ruling would most likely be and why. If it is proved that Xia manufactured its products with "hazardous materials such as lead paint, potentially carcinogenic plastic...
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...accession Since China decided to accede WTO on 11 December 2001, it means that China has to change its several economic aspects, including their commitment towards multilateralism and opened investment, transparency of their economic situations, and their obligation to obey the agreements on multilateral agreement (GATT). The Accession of China in WTO will bring massive benefits for China to enter a bigger scale of the world’s industries, which makes China able to expand their economic activities into a larger sectors. China has become the seventh largest exporter and eighth largest importer for trade in goods, as well as included in the 12 largest exporters and importers of services sectors. China’s revenue after officially become a WTO member increased much higher than the developed countries, especially among other developing countries. As a condition for membership, China was required to make protocol commitments that substantially exceed those made by any other member of the World Trade Organization, including those that have joined since 1995, the broader and deeper commitments China has made inevitably will entail substantial short-term economic costs and these costs will be reflected in rising rates of unemployment in sectors that will shrink as they face increased international competition, both from imports and from goods and services provided by foreign-invested firms in China. Every country which accede to WTO must build their commitments, thus for China, that even...
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...After attaining freedom in 1949 china followed the principles of independence and self reliance and then later started economic and trade exchanges with foreign countries. Initially foreign trade development was relatively slow because of international politics. Before 1978 china’s trade was conducted under system of state trading where approximately a dozen foreign trade corporations monopolised all foreign trade. under this central plan regime imports were not encouraged much and also exports were allowed only to pay for the imports. its share of world trade has risen three times and its expected that will get tripled by 2020. But since the last 20 years china has witnessed a drastic change in its trade policies and patterns and china has expanded itself tremendously. many foreign trade corporations and some retain rights on some of the products. Licenses and quotas in agriculture and food products, machinery and electronics. China has recently become a trading nation and its tremendous potential has attracted developed and newly emerging economies which became evident when china joined WTO in 2000. China’s trade strategy has changed over the years, from primary to manufacturing in 1980’s and 90’s was the decade of mechanical and electronic products. This is the century of high tech IT products rapidly grabbing the market and which are highly in demand , also along with state enterprise private enterprise also engaging in foreign trade. From 80’s to 21st century china’s...
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...Barriers to International Trade ------------------------------------------------- Bear on the move Located in Guangdong, China’s richest province, Xianda Co. is a toy company that has been manufacturing toys since the onset of Guangdong’s economic boom in the early 1990s. While Xianda Co. is now a major manufacturer for a number of multinational toy companies, it began by designing and manufacturing its own line of dolls, teddy bears, puppets and building blocks based on its trademark character “Xia the Panda Bear”. Xia’s popularity was initially limited mostly to China’s mainland until late 2002; a year after China joined the WTO. In 2002, Xianda Co. saw a surge in demands for Xia products start in France, spread throughout Europe and North America, and move into South America. Today, Brazil is Xianda Co.’s biggest export market for Xia goods, and Xia’s popularity in Brazil alone accounts for 19 percent of worldwide Xia sales and 2 percent of Xianda Co.’s manufacturing output. Since 2003, Xia the Panda Bear has become the most popular toy in Brazilian history. A bear market A media frenzy of confirmed cases and unconfirmed speculation pertaining to China’s use of hazardous materials (for example, lead paint and potentially carcinogenic plastic and rubbers) to manufacture toys cheaply, sparked consumer panic around the globe. In response, the Brazilian government ordered all Xia goods pulled from store shelves and banned further toy imports from China until toxicology tests...
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...In 1865, Hong Kong and Shanghai Banking Corporation (HSBC) was founded to meet the demand for local banking facilities in Hong Kong and on the China coast. The increasing and frequent trade was undertaken between Europe, India, and China, which contributes to the extension of the bank. HSBC now is one of the world’s largest banks with extensive international operations. Although the bank rapidly expanded across the globe, HSBC retained a clear focus on China market. In view of these changes of HSBC’s China strategy, it may be instructive to examine how banking environment and police of China changed over the years. Upon China’s accession to the WTO, foreign bank were allowed to enter China’s bank sector. HSBC seized the tremendous opportunity to strengthen its presence in China. This essay will begin by examining the evolution of HSBC’s Strategy in pre-WTO and post-WTO China. Next, It turned to analyse the impetus to these changes of HSBC’ China strategy. In the following part, this essay will introduced the background of HSBC expanding in China’s rural areas and evaluated this strategy from advantages and disadvantages aspects. Having presented the HSBC’s presence and strategy in China, the paper then analyses HSBC’s operating in other emerging markets with the evidence from India and Argentina. Moreover, the data and facts will be provided to evaluate the operation of HSBC during the recent world economic crisis. The further research about the reasons that Asian was identified...
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...2000 was the culmination of American efforts to normalize relations with the former enemy. In 1986 the Doi Moi resulted in Vietnams sucessful transition to a socialist orientated market economy. Elements of market forces and private enterprises were introduced soon after and a stock exchange opened in 2000. In 2007 Its successful economic reforms resulted in it joining the World Trade Organization which has promoted more competitive, export-driven industries, It also became an official negotiating partner in the Trans-Pacific Partnership trade agreement in 2010. These lifts in protectionism has meant that poverty has declined significantly however, Vietnam is still working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. It also still suffers from relatively high levels of income inequality, disparities in healthcare provision, and poor gender equality. This essay aims to firstly set out the role of the WTO and why Vietnam sought accession, it will then discuss both the positive and negative impacts that freer trade has had on the country. Vietnam joined ASEAN/AFTA in 1995, ASEM in 1996, and APEC in 1998. In January 1995, Vietnam applied for WTO...
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...1 of 17 Xianghui(Ray) Chen 2153583 China and Global Financial Crisis US-Led TPP VS China-Backed RCEP —Applying Main IR Theories To US Policy-Making Process And Relevant Developments The backdrop of the TPP and RCEP WTO and TPP TPP and TTIP are drawn from the two precedent successful free-trade experiments, the EU and NAFTA(North American Free Trade Agreement). EU originated from the European Coal and Steel Community, before developing into the Common Market and further into European Community, and finally, into the EU. 1The ‘living’, ‘evolving’ treaties and agreements of the EU very much guide the living agreement of TPP/TTIP. NAFTA originated from CUSFTA (Canada-US FTA), which was implemented in 1989, and followed by NAFTA, ratified in 1994. Both EU and NAFTA existed before the WTO finally replaced GATT at the beginning of 1995. The replacement not only greatly expanded sectoral coverage but also replaced the GATT’s quite weak dispute-settlement mechanism.2 The liberalization and integration of trade had mainly proceeded under the auspice of WTO prior to the year 2000. With the evolvement characterized by the widening of the trade agenda to include the movement of people and not just that of goods, services, investments and capital,3 international society called for an update of the WTO. Although the Doha round did inspire some discussion in 2001, developing states fundamentally refused to open their market to the services and goods of the developed ones...
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...globalisation has had strong impacts in China and thus is predicted to be one of the 4 largest economies by 2050(BRIC). China has benefited greatly from the onset of globalisation and their economy would not be the size it is today if it was not for globalisation, however globalisation has had some strong negative side effects on China. Effect of the 2008 GFC As a result of increased globalisation in China, it has been vulnerable to the Global Financial Crisis in 2008. In the period between 2006 and 2007 China was operating with high GDP growth rates, with an average of 12%. When the GFC hit in 2008, the impact was clear when: * GDP growth rate had dropped down to 9% in 2008 and 8.5% in 2009. The decrease in GDP growth rate was due to worldwide demand for the Chinese exports decreasing and TNC’s closing down factories and putting millions out of work, leading to a stall in domestic industrial production. * Inflationary rate was negatively affected. In 2007 China’s inflation rate was 4.7%, in 2008 it grew to 6%, and when the GFC hit, the impact was clear when inflation had dropped down to negative 0.6% in 2009. * China’s unemployment rate had increased from 4% in 2008 to 4.3% in 2009. * China’s government debt as a % of GDP rose from 16% in 2007 to 19.5% in 2008 In November 2008 the Chinese government introduced a stimulus package worth $586 billion, which was aimed at encouraging growth and domestic consumption. After 2009 China experienced gradual increases in...
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