Impact of the WTO on China’s Rule of Law in Trade: Twentieth Anniversary of the WTO

Abstract

The World Trade Organization (WTO) will commemorate its 20th anniversary in 2015. Over the last twenty years, WTO has accepted thirty-four new members ranging from some of world’s largest economies to some of the least developed. Of them, China’s accession has been internationally recognized as one of the most historic events. ‘This is an historic moment for the WTO, for China and for international economic cooperation’, said the WTO’s Director-General, Mike Moore, commenting on the approval of China’s accession on 10 November 2001. China’s membership of the WTO has been a resounding success for both the WTO and China. The WTO has not only made a major contribution to the strength and stability of the global economy by helping to boost trade growth, resolve numerous trade disputes and support developing countries to integrate into the trading system, but also played a pivotal role in strengthening multilateralism, establishing an inclusive world economic order and promoting an open, rules-based and non-discriminatory multilateral trading system. Since admission to the WTO, China not only became the largest trading nation of goods in 2013, but also has set a new blueprint for the rule of law in the world’s second largest economy in 2014. No doubt, the rule of law in trade encouraged by the WTO has promoted and will further push the rule of law in China. The WTO promotes the rule of law in trade in China in at least the following five dimensions: the optimization of China’s trade institutions, the legalization of China’s trading system, the strengthening of China’s trade law enforcement capacity, the promotion of judicial review on China’s trade-related governmental decisions and the perfection of the rule of law in China’s trade.