Part one of term paper
The agreement between China and the United States on China's accession to the World Trade Organization (WTO), is arguably the most important event in the mainland since Deng Xiaoping began to reform the economy and open the socialists giant to the outside world 20 years ago. It is a logical extension of his market reforms. In the long shot, ...

Part two of term paper
... leaders can assert that as a WTO member, China is bound to open its markets to foreign competition, which will pressure domestic companies to become world class. Behind China's leaders will be the weight of 135 other nation~{!/~}s members, besides the U.S. After China joins the WTO, the increased competition of the Chinese Industries will feel from the influx of more foreign imports and deeper foreign investments, will become the acid test for coddled industries. Those that can meet the challenge w ...