Suppose you make it into the final round of the World Bank interview. World Bank research team asks every shortlisted candidate to write a report on China’s fiscal system since the 1990s and its consequences today.
Suppose you make it into the final round of the World Bank interview. World Bank research team asks every shortlisted candidate to write a report on China’s fiscal system since the 1990s and its consequences today. In addition, you are required to address how China’s fundamental institutions of reform and development link to the consequences you discuss. Besides these requirements, please feel free to add your thoughts on China’s fiscal system into the essay. 1000 words
Suppose you work in a WTO research team that focuses on Chinese firms’ trade disputes. Your boss (she) would like to know the primary features of the Chinese firm sector. She thinks the core of all disputes is the Chinese government’s “visible hand” to help Chinese firms and SOEs’ role in the firm sector. Moreover, China’s some trade partners have complained about Chinese firms’ impacts on their industries and societies. She would like to know how you interpret the so-called “China shock” and your possible solutions to the complaints.
China has trade disputes mainly with EU and US. You do not need to talk about various disputes in detail. Instead, please explain why there are many disputes based on your understanding of our lectures and your thoughts. Moreover, is there any way out of the disputes based on your explanation of the reason? 1000 words
In the spring of 2000, China was trying to become a member of the World Trade Organization (WTO). The U.S. House of Representatives had just approved normalizing trade relations with China. The vote was effectively a U.S. endorsement of China’s accession, and President Bill Clinton, a major proponent of China’s bid, voiced his economic and strategic hopes for the U.S.-China relationship.
The WTO is the global trade rule-setting institution. It has 164 members as of 2021, and all decisions are made unanimously. It promotes freer trade by requiring all members to adhere to certain principles, emphasizing low and predictable trade barriers. In exchange, members are guaranteed better deals with other WTO member countries.
China wanted to join the WTO because it would allow China access to new trading partners and better rates with current ones, raising prospects for improved living standards domestically and giving China a seat at the table in a globalizing world.
The United States wanted something, too: for China to get on board with a U.S.-led, liberal-democratic order and move away from its communist model. But that’s not quite what happened.
With the world’s sixth largest economy and a population of one billion people, China in 2000 was already a massive market and clearly a rising power. Before 1978, China had a socialist-planned economy and was largely isolated; since then, it had been gradually opening up its economy to the rest of the world. WTO membership would accelerate that process.
Clinton and others championed China’s accession for a few reasons: