Week 5: China and WTO Flashcards
How is “GATT-think” described from an explicit and implicit dimension?
Explicitly, GATT is a deal about the reduction of tariffs and a liberal economy. Implicitly, GATT is a tool for the West post-Cold War, since trade policies created national securities and ensured countries had access to goods.
How did Deng Xiaopeng change China’s stance with the WTO in the late 1970s to early 1980s?
Under Xiaopeng, China made attempts to rejoin GATT after around 20 years of leaving
What was GATT’s intention from welcoming Yugoslavia in the 1960s, and Hungary and Romania in the 1970s?
GATT wanted to spread and encourage the liberal trade policies across the world. Additionally, including more Soviet countries would weaken the Soviet bloc, and smaller countries were easier to influence.
How does Japan’s behaviour in GATT contrast China’s behaviour in GATT?
Japan easily adapted to the liberalization style, leaving behind their state-influenced and government controlled economic style. On the other hand, China chose to remain a socialist market economy, which causes tensions within GATT members.
What benefits would the US gain from China’s accession in the WTO?
From their accession, China would have to greatly reduce their tariffs, while the US will keep their tariffs the same. This would result in a trade surplus for the US, which is what they aimed for since China has a really big economy.
