China joins the World Trade Organization
ChinaOn November 10, 2001, China joined the WTO after a 15-year negotiation process. This was a major step for the country, as it opened the door for increased trade and investment opportunities with the rest of the world. Joining the WTO also required China to make changes to its economy and its legal system, including reducing tariffs and other trade barriers, improving intellectual property protection, and strengthening anti-corruption measures.
Since joining the WTO, China has become one of the world’s largest trading nations and a major driver of the global economy. Its membership has helped to create millions of jobs across the world and to reduce poverty in developing countries. At the same time, China has faced criticism from some WTO members, who believe that the country has not always complied with its WTO obligations.