| Headline: The WTO dilemma Source: Euromoney Date: September 2000 more on china more from Euromoney September 2000 Beijing-watchers see it as a shrewd piece of political manoeuvring on the part of the Chinese government. “From a domestic political point of view, China’s leadership can’t be seen to be the prime mover of radical changes that will inevitably lead to job losses,” explains a Beijing banker. “Joining the WTO is a very convenient way for the leadership to blame any social hardship on outside forces.” Another banker says: “China needs external pressure, and the best source of external pressure is uncle Sam.” Superficially at least, China’s accession to the WTO looks like an enormous gamble on the country’s ability to compete internationally, given that in the short-term it will tear down tariff and non-tariff barriers to trade and open the domestic market to international competitors. | |||||||||||||||||||||||||||