China & WTO
March 15 2002
The central challenge for China in 2002 is to keep gross domestic product growing fast enough to provide a cushion against the shocks and dislocations that accession into the World Trade Organisation may bring. Policymakers need to create millions of jobs, alleviate a rural economic crisis, whittle down a mountain of bad loans in the banking system and prevent a bubble in domestic stock market values from deflating.
All this needs to be done at a time when external drivers of growth - trade and inflows of foreign direct investment - may be hobbled by sluggish Japanese and US economies. It is a daunting balancing act, but one to which Beijing is determined to prove equal.
Overview Liberalisation pace reined in to reduce risks
Problems on the road to liberalisation
Economy GDP needs to grow fast enough to cushion the shocks of accession
Company trends
The number of M&A deals is expected to boom
Politics Reform, but in a communist state
Profile Hu Jinto
Sectors A lucrative new telecoms market
Textiles - China could be producing half the world's apparel exports by 2005
Retail - domestic retailers have to restructure to cope with foreign giants
Banking - expectations look set to outstrip the reality
Web exclusives Law - An eye on the small print is needed
WTO accession spawns publishing boom
Autos - Foreign rivals put expansion plans
Related surveys APEC in Shanghai 2001
China 2001
Hong Kong 2001