Title: China and the World Trade Organization
|Date:||November 24, 2014|
|Length:||6 / 1597|
|No of views:||0|
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Eventually this lead to China joining the WTO. Today, the result of these reforms is China possessing one of the fastest growing and largest economies in the world despite being governed by a communist party. As the market continues to open up, MNEs can expect great opportunities in China but there significant great risks when doing business in the country...
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This makes it harder for foreign firms to compete in the price wars in a global market. The United Stated (US) administration has even filed complaints to the WTO trying to get China to revalue its currency upwards in value against the dollar as currently is undervalued by as much as 40%, giving Chinese exports a huge competitive advantage against the American goods and services (USA Today, 2007, Internet)...
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