| LONDON (Xinhua) _ China's continued absence from the World Trade
Organization (WTO) will adversely affect both the international trading system at large
and existing members' bilateral trade ties with China, a top WTO official said here on
Wednesday. Concluding China's accession into the WTO will need strong political will,
determination and vision in the key capitals of the world, said Chulsu Kim, deputy
director-general of the WTO, during his address at a conference on "Asia and the
Future of the World Economic System."
"Although China has been far less affected by the financial crisis in Asia than
other economies, it has played a critical role in containing the crisis," he told the
conference hosted by the British Royal Institute of International Affairs.
"China's decision not to devalue its currency despite the competitive pressures
and her decision to maintain the momentum of economic reforms in adverse economic
conditions have earned her greater credibility as an important and responsible participant
in the international trade and economic system," he said.
Kim also noted the intensification of accession negotiations in recent months, but said
that "given the size and importance of China's economy and wide-ranging trade
interests involved for a large number of WTO members, it is not surprising that these
bilateral negotiations have also proved to be time-consuming and complicated.
"We are now seeing a new determined push by China to conclude its membership in
the WTO as rapidly as possible."
Kim noted that similar situations occurred during the Uruguay Round and before the
establishment of the WTO in January 1995, but that the difference seems to be that, along
with China, WTO members regard the months ahead as "a window of opportunity" to
bring China into the WTO.
"This may spring from the conviction that failure would lead to an indefinite
delay and that China's continued absence from the WTO would adversely affect both the
international trading system and members' bilateral trading relationships with
China," he added.
"I consider this shared perception a very positive development because it may be
just the catalyst that we need to bring about flexibility and accommodation between China
and its trading partners," he said.
Commenting on the delicate and difficult task of balancing China's needs with the views
of others in the international community, Kim concluded that the WTO stood to benefit
substantially if the challenge of China's accession were met creatively and
constructively. |
