The Characteristics and Defects of the Development of China's Foreign Trade after Accession to the WTO

Abstract

After entering into WTO, China held the good chance of quick development of economic globalization to develop export-oriented economy and promote the rapid development of foreign trade and economy. However, there were some potential defects behind achievements, such as high proportions of foreign-owned enterprises and processing trade in total foreign trade, centralized international markets, lacking independent intelligence right and international brands, and little benefits from international trade. Therefore, only the defects are deeply understood and correctly solved, could the development of Chinese economy and its foreign trade be promoted. Accordingly, this paper made some studies in this field so as to promote the competitiveness of internal enterprises as soon as possible and realize the transfer from export for earning foreign currency to export for earning profits.