| China's WTO Accession Contributes to Multilateral Trading System |
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China's Trade Representative Long Yongtu said in Geneva on April 8, 1998 that history will prove that China's accession to the World Trade Organization (WTO) will contribute positively to the consolidation and development of the multilateral trading system. "It is puzzling that when certain members raise excessive requests on China's WTO accession, they always say they are defending the integrity of multilateral trading system," Long said. "It seems to them that if China does not meet conditions of one or two WTO members, China's accession will bring disaster to the whole multilateral trading system," he said. "This kind of statement is, to say the least, based on ignorance." Long outlined the following facts to refute the absurd saying: - China has participated in many multilateral organizations, both political and economic, including the United Nations, and has played a positive and constructive role in promoting peace and development in these multilateral organizations. - During the recent financial crisis in Southeast Asia, China has participated, within its own capacity, in the bailout plan of international financial organizations. China has paid the price and made the sacrifice for the stability of Asian economy by not devaluing its own currency. - In spite of the difficulties caused by the Southeast Asia's financial crisis, China, at the current Working Party session, still decided to honor its commitment and tabled its latest tariff offer. Long said that those facts have shown that China is a responsive member, willing to undertake the obligation in the international community. "Now it is time that major players of WTO demonstrate some degree of responsibility towards China's WTO accession," Long pointed out. |
