10.11.2012 14:04

The End of the WTO's Golden Era

Trade disputes and stagnation are indications that a system that has served the world well has become outdated, a development that China's manufacturers must note
By Andy Xie
 

Globalization has been on a rapid pace for two decades. Trade has been rising roughly twice as fast as global GDP in the past two decades. The World Trade Organization's rule-based system, though with many flaws, has played a critical role.

The total number of anti-dumping cases peaked in 2001 at 372 and was as low as 155 last year. However, the trend for China isn't as favorable. It suffered 49 anti-dumping cases, about the same as the ten-year average. Considering that China's exports have been rising twice as fast as the global trade, the stable number of anti-dumping cases should be considered a good outcome. The WTO system has been beneficial to China's trade development.

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