Abstract
In retrospect of the twentieth century, people may think the mid-Nineties are the most critical years in making the world what it is today. In 1993, U.S. launched the National Information Infrastructure-the NIT project, which greatly liberalized the telecommunication industry and the Internet. In 1994, in the Final Act of the Uruguay Round of General Agreement on Tariff & Trade (GATT), with inclusion of non-tariff issues such as transparency rules and trade-related services and intellectual property rights for the first time, implications on cultural industry were made, and the World Trade Organization (WTO) ensued. In the years around 1995, changing regulatory climate in the U.S. facilitated cross-investment, merger and acquisition in industries like telecommunication, banking and mass media. Media mega-giants capitalized on such liberalization, and their entries into the international markets have caused tremendous concerns over cultural industries in different nations. All of the above impacted the world, and China was no exception. In 1996, there was a sudden influx of foreign capitals into China, and the concept of ”knowledge-based economy” was first mentioned worldwide. In 2002, China's accession to WTO further opened its cultural market and accelerated its pace of reforms. The Chinese government's counter measures upon joining WTO have even unknowingly moved China from the Soviet Communist ideology of Four Theories on the Press to that of Social Responsibility.
Published Version
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