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銆€銆€The impacts of China's entry into the world trade organization

銆€銆€After years of bitter struggles and numerous negations, China, the economy of which is one of the world's biggest ,eventually became a formal member of the world trade organization--the largest organization that coordinates trade and business operations among its member states. As a matter of course, China's entry into the TWO brought with it challenges as well as opportunities.

銆€銆€First of all, China is to enjoy the benefits that the organization provides us. Lower tariffs and tax rates and fewer trade barriers will facilitate our swift and efficient imports and exports and other trade activities. According to the trade clauses of the WTO, the European union shall cut down the tax rates it imposes on our exported textile products, thus availing the arts-and-crafts companies in our country to extract more profits from the business. In a sense ,the WTO means opportunity, and it sets the stage for our business to cut a brilliant figure in the international economic circles.

銆€銆€Secondly, China's national economy is set to be faced with fierce competition from the outside world. WTO pursues a relatively equal and free business environment for all its members, which poses a major challenge for our economy.. Such monopolous business sectors used to enjoy protections from governments of all levels as telecommunications and banking will find themselves no longer be in a "safe box". They have to adjust or replace their current operative and marketing strategies to cope with the "outdooors" shrewd and talented completers, or they will suffer big losses and tough time is awaiting them. We should brace for the challenges so as to take the initiative when competition is close at hand.

銆€銆€In the final analysis, abundant opportunities and stiff challenges goes hand in hand with each other along with China's entry in the WTO.. We should make good use of the chances and meanwhile suitably deal with the outside competition, All our efforts are to upgrade our business scales and get more integrated into the international business community.