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China
-- In Gear for the WTO?
WE live in an ever-changing world where competition
is king. China's entry into the WTO signals transformation of
the Chinese fundamental lifestyle. We must now wake up each
morning, look at ourselves, and ask the question," Am I
fit? Will I be able to compete today?'
This is no exaggeration of the situation today
for us, the Chinese. As the global economy looms, and becomes
a part of our lives, questions like, "Are we contenders?"
and "Are we geared up for the WTO?" must be faced
and answered.
Standing on the WTO threshold, we are eager,
yet doubtful. On the one hand, we have no wish to separate ourselves
from the global economic mechanism, because interdependence
is the only way to go. But on the other, we need to "test
the water," to see whether or not the vast changes that
have occurred in China over recent decades are sufficient. This
is at the root of all doubts and anxieties about China's participation
in the WTO. It is clear that the changes necessary for us to
be in the swim of the global system encompass a long, hard,
complex process of intimidating proportions. In any event, here
we are, in the bosom of the WTO family, but we must constantly
bear in mind that this is not the finishing point, but only
the beginning of another Long March.
The world is beset with economic revolution,
turmoil, and cutthroat competition. The governments of each
country have made the adjustments necessary to tread the global
economic path. Within every kind of economy are three main aspects:
its premises, players, and resources. Premises comprise the
market, its price mechanism, free and fair competition, private
ownership, independent enterprise, free decision making, and
a legal framework. The players are the government on all its
levels, corporations, entrepreneurs, and functional institutions.
Resources, with which the players juggle, are composed of capital,
talents, physical assets, and technology.
After almost a decade of preparation, China
is going all out to keep pace with this new economy, concomitant
to globalization. Old systems have been transformed, and new
mechanisms constructed. State-owned enterprises have been restructured
along the lines of modern enterprises, by means of carefully
formulated and meticulously applied policies. Changes to trade,
industry, salary structures, finance, and investment are occurring
every moment of every hour, every day. The dynamic performance
on the part of the Chinese in this respect truly merits deep
admiration.
Once we are "in," however, a whole
new can of worms' worth of problems relating to the ongoing
efficient functioning of our WTO membership will emerge. The
rest of the world must allow China a little time. In the words
of late Chairman Mao Zedong, "China has extremely complex
politics that merit special attention."
It must be acknowledged that this new world
economy will increase overall competition and add further to
China's already heavy burden of responsibilities. We are becoming
ever more aware of our merits and demerits, but such an awareness
is the prerequisite to China's successful adjustment to the
global mechanism. Factors such as a firm basis of knowledge,
IT, high value-added production, boosts to investment, large-scale
restructuring, liberalized financial markets, and an independent
and fair legal system, all of which work together to stimulate
the competitive spirit, are welcomed by the Chinese. Our aim
is for greater openness in international trade and finance.
To this end, we are undergoing rigorous training and self discipline
in an effort to transform the role of the government and its
rulings, develop financial markets, and improve the quality
of infrastructure, technology, management, the labor market,
and judicial and political institutions. As expressed by the
Chinese proverb, Nei Wai Jian Xiu -- discipline of the inner
and outer self is an ongoing process in China.
There is still a long way to go before we
may fit into our appointed global mechanism slot. There are
areas, such as tariff reductions, export and import ratio requirements,
updated telecommunications, and openness within the banking
system, that require action. This is plain to all.
Under the leadership of a younger generation
with President Jiang Zemin at the core, the Chinese people today
are more confident than ever. A stable, prosperous China can
make substantial contributions to the peace and development
of the Asia Pacific Region, and to the world as a whole.
Today, we are in the throes of a new Long
March. Self-isolationism and conservatism are behind us, and
a new era is on the horizon.
China is geared up. Let's go!
Chen
Shupeng and Xu Juan
Nanjing
