The Chinese way
EXCHANGE OPINION
December 2001 saw the accession of China to the World Trade Organisation, and so began a five-year transition period as the country sought to fulfil the commitments it had made in its lengthy application process.
Economic reforms have seen the country move to a market-based economy, trade barriers are being removed and market access is being expanded to goods from other countries. Chinese exports have increased dramatically, giving China a surplus in its balance of payments, and foreign exchange
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