Wharton's Marshall Meyer: China and the WTO
Episode Description
Ten years after China joined the World Trade Organization (WTO), the country has become the world's largest exporter and accounts for some 10% of global trade. The International Monetary Fund predicts that by 2016, China will overtake the U.S. to become the world's largest economy. How did membership in the WTO help transform China? What will the next decade mean for China and its trading partners? To discuss these questions and others, Knowledge@Wharton spoke with Wharton management professor Marshall Meyer. đź“‚ Public Policy
Brief Summary
China's WTO membership transformed its economy, boosting manufacturing but creating rural challenges and future uncertainties.
Key points
- Impact of WTO on China. Marshall explains how joining the WTO transformed China's economy dramatically.
- Winners and Losers in the Economy. Some sectors thrived post-WTO while others struggled, particularly in rural areas.
- Challenges in Agriculture. Labor shortages are threatening key crops like cotton and tomatoes in China.
- China's Export Growth. China has become the world's biggest exporter, but is this growth sustainable?
- China's Aging Population. The aging population poses significant challenges for future economic growth.
- Navigating China's Economic Future. Advice on how China can maximize benefits in the next decade of WTO participation.
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Episode highlights
- Impact of WTO on ChinaMarshall explains how joining the WTO transformed China's economy dramatically.“The short answer is everything.”0:39Dec 15, 2011
- Winners and Losers in the EconomySome sectors thrived post-WTO while others struggled, particularly in rural areas.“There are some spectacular winners and some losers.”2:06Dec 15, 2011
- Challenges in AgricultureLabor shortages are threatening key crops like cotton and tomatoes in China.“The cotton crop is at risk because they cannot find enough people to harvest it.”4:47Dec 15, 2011
- China's Export GrowthChina has become the world's biggest exporter, but is this growth sustainable?“The export economy is unlikely to continue to grow at the same rate.”13:14Dec 15, 2011
- China's Aging PopulationThe aging population poses significant challenges for future economic growth.“China's aging population is a big question mark for its economy.”15:39Dec 15, 2011
- Navigating China's Economic FutureAdvice on how China can maximize benefits in the next decade of WTO participation.“I would they wouldn’t listen to it, but it would be unequivocal.”27:35Dec 15, 2011
Tension
45/ 100Some tension
