China and WTO
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From our analysis, we found the following most relevant:
The Western countries and the WTO membership in general only paid attention to the words market economy. But for the Chinese, the word socialist was equally important.
This is a clear case of cognitive dissonance. China never committed to becoming a market economy when it joined the WTO. It only promised to become a socialist market economy.
This time is different The GATT/WTO liberal understanding was still implicit when China knocked on its door. WTO incumbents assumed that with Dengs reforms China had entered a one-way street, with market economy being the end destination.
We begin with a caveat: in this column, inspired by our recent book (Mavroidis and Sapir 2021), we discuss China in the WTO, not China in the world economy or China in the realm of international relations. We do not deny that there is an osmosis between the general and the specific