TABLE OF CONTENTS

 

CHAPTER THREE.. 3

ROLE OF CHINA IN GLOBAL TRADE GOVERNANCE AFTER APPROBATION TO WTO.. 3

1 China’s aim of joining WTO?. 3

3.1.1 Initiatives to launch economic reforms. 3

1. 2 Integration with world economy. 6

3.2 China leading roles in Africa. 8

3.2.1 Improved economic ties through the Sino-African Trade. 8

3.2.2 China’s energy footprint in African countries. 10

3.3 China leading roles in Latin America. 12

3.3.1 China’s commercial links. 12

3.3.2 China’s contribution to Latin-America’s economy. 14

3.4 China leading role in Asia. 16

BIBLIOGRAPHY.. 21

 

 

 

 

 

 

LIST OF ABBREVIATIONS

ASEAN          the Association of Southeast Asian Nations

CELAC           the Community of Latin American and Caribbean States

DRC                Democratic Republic of Congo

EU                   European Union

FDI                 Foreign Direct Investment

FIEs                Foreign Invested Enterprises

FOCAC          Forum on China-Africa Cooperation

GDP                Gross Domestic Product

UNHCR          United Nations High Commission for Refugees

WTO               World Trade Organization

 

 

 

 

 

 

 

3. 1 China’s aim of joining WTO?

China joined the World Trade Organization on the 11th of December, 2011. The accession of China to WTO was materialized following a lengthy negotiation process that required the Chinese economy to undergo significant changes. This step symbolized the integration of China into the global economy.

3.1.1 Initiatives to launch economic reforms

Economic reasons were the primary motivating factors of China joining the WTO. Based on the agreement establishing the WTO, a key function of the organization is to facilitate the implementation, operation, administration and furthering the objective of the Agreement as well as Multilateral Trade Agreements. The WTO also provides a negotiation forum for its members regarding multilateral trade relations. WTO shall also provide a mechanism for Trade Policy Review. According to the definition derived from Merriam- Webster dictionary, World Trade Organization (WTO) plays the role of establishing trade rules among its member countries[1]. The WTO also has the responsibility of handling trade disputes, providing technical help for developing nations, cooperating with other trade organizations and monitoring trade policies. From China’s perspective, an economic concern was the possibility that other nations might close their markets since China’s economy was more export-oriented. Joining the WTO was a means of proving trade relations that were more stable, which means that China could trade goods with other member states such as the United States of America. The accession to WTO was also expected to improve China’s accessibility to new capital markets as investors developed confidence in the nation’s ability to formulate and implement decisions based on internationally applicable rules[2]. For China joining WTO meant that all sides would settle disputes under the same rule of law. Therefore, China’s incorporation into WTO was seen as a way of improving national economy following Asia’s financial turmoil.

Another objective that China hoped to achieve by joining WTO was to change its economic management practices. As such, the impact of the accession was the implementation of pro-market strategies that the government would use to manage national economy. Prior to the accession, the Chinese government intervened in virtually all economic aspects through different administrative means. For instance, the government mandated guidelines and regulations for setting price ceilings, it provided permits for imports and exports, set quotas, and controlled the participants of foreign trade. The accession to WTO meant that the market would play a significant role in managing the national economy[3]. Based on the Chinese description, the government’s mandate is to serve and not to manage the economy.

China joined the WTO so that it could implement domestic reforms. From the view of Chinese elites and leaders, China’s domestic reform overpowers the economic progress achieved. One of the key reforms is increased level of transparency in all Chinese governmental levels. In particular, the central government has become more market-oriented, which means that its operations are in line with economic governance. The government of China started embracing the popular rule of law once it joined WTO[4]. According to policy makers, China’s move to join the WTO meant that the government was subject to the requirements and rules of WTO. In congruence with WTO’s rule-based spirit, China experienced mobilization of huge amounts of resources, with over 3,000 national regulations and laws abolished, promulgated and revised.

Additionally, China joined WTO with the aim of increasing transparency in its government. The fundamental principle of WTO’s rules and regulations is transparency. Hence, China committed itself to transparency as stipulated in its joining protocol. In line with the provisions in different WTO agreements, all levels of Chinese governments experienced greater transparency. Prior to accession into the WTO, China’s legislative process was closed. However, after joining the WTO, the process became open to participation by the general public. Some of the laws that led to the development of a legal framework encouraging public participation include 2003’s Administrative Licensing Law, 2002’s Ordinance Concerning the Procedures for the Formulation of Administrative Regulations, and 2000’s Legislation Law[5]. According to these laws, it is mandatory for channels like seminars, hearings, symposiums and written comments to be available for the public’s contribution to legislation process. The Internet and media are significant platforms through which the public can participate. The requirements in question are also applicable to local legislation.

3. 1. 2 Integration with world economy

            China has been keen on joining a multilateral trading system. Since the People’s Republic of China was established in 1949, the country has shown a consistent engagement in building the nation through internal planning and Soviet Union’s support. Following the 1950s Sino-Soviet rift, the relationship between China and Soviet Union turned sour. Consequently, China became a closed society that rarely interacted with other countries. It regained its economic stability in the mid-1980s, with a renewed interest to integrate with international economy[6]. China was convinced that by integrating with the world economy, it would maintain its economic prowess. The considerations of integration as a way of maintain economic power motivated China to join WTO. From the perspective of China’s leadership, WTO membership was pivotal in promoting the nation’s economic future.

Even prior to its WTO membership, China was a major exporter, with the exports making up two thirds of the national GDP. With its accession into WTO, China’s expectations are to perform better with regard to exports since it will be able to access the market of several countries. Joining the WTO was necessary for China since such a move was meant to ensure that the county maintained its positon at the international community to enable it stand up for itself during trade disputes[7]. Furthermore, the country will have the ability to attract additional FDI to aid in internal development and economic growth. Therefore, China’s step of joining the WTO in 2001 can be viewed as a fundamental move towards global integration.

China’s accession process stirred the interest of different quarters like the Foreign Invested Enterprises (FIEs) that was already operational since the 1980s as well as some corporate sector sections that already had global competitiveness. The accession protocol was a long process characterized by numerous economic and political programs like establishing a transparent judicial system, structural adjustment, establishing of economic reforms, bilateral negotiations, and addressing human rights issues. The terms associated with China’s Accession Protocol to WTO signify substantial development whose history has been unparalleled. The protocol commitments that China had to make exceeded those that other WTO members made[8]. The Chinese government came to realize that a major benefit of joining the WTO is that it would increase China’s competitive edge in the domestic market. The high level of competition is considered as a significant source of pressure to state-owned banks, government institution and enterprises to implement the needed structural reforms. The accession process entailed 15 years marked by hectic negotiations that centered on China’s major trading partners like Japan, Canada, EU and US.

3.2 China leading roles in Africa
3.2.1 Improved economic ties through the Sino-African Trade

Since China joined the WTO, its national economy has progressed significantly.  Additionally, the country’s economic ties with Africa have deepened. China was declared as the largest trade partner to Africa in 2009, surpassing the United States. 15-16percent of the exports from the sub-Saharan Africa is destined for China. Similarly, 14-21 percent of Africa’s imports are from China, according to approximations given by the World Bank and Thomson Reuters[9]. While most of the goods exported to China from Africa include lubricants, mineral fuels and other materials, the county also exports, metals, iron ore, agricultural products and some foods. China’s exports to Africa include a wide variety of machinery, communication equipment, transportation, and manufactured goods.

Africa considers China as a primary foreign direct investment source. Rich nations such as Angola receive development loans from China. Moreover, China develops economic cooperation and trade zones in numerous states such as Zambia, Nigeria and Ethiopia. The country has invested in agriculture, with its companies and banks providing finance so that they can secure greater business deals’ shares in Africa. The financing in question is in terms of credits and loans that are offered by China Development Bank, People’s Bank of China, China-Africa Development Fund and the Export-Import Bank of China. More than 86 billion dollars was loaned to Africa between 2000-2014 by Chinese contractors, the government and banks[10]. The top recipients were Democratic Republic of Congo, Angola, Sudan, Ethiopia, and Kenya. However, such huge amounts of loans have begun to raise concerns regarding the loads of debt in African countries, with a possibility of debt crisis.

The business interests of China in Africa have been diversifying steadily. China has been involved in telecommunications, mining, and energy industries, in addition to financing the construction of ports, railways, airports, stadiums, schools, hospitals, and roads. Investment drawn from both private and state funds has helped to set up sugar, rubber, sisal, and tobacco plantations. Because of local economic conditions, Chinese firms were forced to seek for new markets for excess industrial capacity and consumer goods, a move that was seen as China’s strategy of going global. The investment that China has made in Africa is also in line with the development framework formulated by President Xi Jinping, “One belt, One Road.”[11] This framework merges a maritime road with continental economic belt with the aim of promoting interconnectivity and cooperation between Eurasia and Africa. Therefore, the economic impact that China has had in Africa is a clear demonstration of its significant leading role in the continent.

The role that China-Africa Forums’ meetings have played in strengthening the ties between the China and Africa cannot be overlooked. These forums have been renamed as FOCAC and are conducted every three years in Africa and China alternatively. The meetings serve as a strategy for promoting security, investment, trade and diplomatic relations between Africa and China. The first China-Africa Consultative Forum was hosted by China in 2000, and a new policy was introduced for the country to aggressively engage with Africa at diverse multilateral levels[12]. China has to provide a special package of security, political and economic inducements so as to gain access to the continent’s resource producing regions. China faced a stiff competition from other interested parties such as the EU and the US. China’s unique package include cheap loans for infrastructure development, targeted debt relief, competitive military deals, collaborative traditional medicines projects, promotion of South-South ties, establishment of funding agencies, and participation in operations aimed at peace-keeping in areas such as Sudan, DRC and Liberia[13]. Such promises were attractive to African nations, which managed to win the trust of China. For this reason, China managed to successfully engage with Africa and take a leadership role in the continent. It managed to overpower its competitors such as the United States.

3.2.2 China’s energy footprint in African countries

            In a time span of a few years, China has become a leading energy player on Africa. This was triggered by the nation’s quest for oil supplies that were more secure following the static and declining local oil production. The Chinese companies do not have the technical ability to handle oil exploration project. Hence, it is necessary to form partnership with companies such as TotalSA, Petrobras and Chevron-Texaco in regions like West Africa as this will help the country to acquire new drilling techniques. Sudan was the only country explored by China in Africa until 2000[14]. Currently, almost 20 African nations have operational Chinese oil companies in both downstream and upstream sectors.

China reprioritized its sources of energy supply and chose to explore the major oil producing countries in Africa including Nigeria and Angola. China also ventured into the high risk places such as Sudan, Mauritania, Chad, Equatorial Guinea and Niger. It is searching for new opportunities to explore in Uganda, Madagascar, Kenya and Ethiopia. A strategy that China uses to maintain its closeness to the main decision-makers within the energy area is forming joint ventures with oil companies owed by the local state[15]. This strategy has been witnessed with the ventures formed with Sonatrach in Algeria, Sudapet in Sudan, the Nigerian National Petroleum Corporation in Nigeria, and Sonangol in Angola.

A major turning point that solidified China’s leading role with its energy footprint was witnessed in 2000. Between January and May of 2000, the oil imports of China from Africa hiked to 307,000bpd, which was a 174 percent increase from the previous year’s amount that was at 132,000 bpd. Angola was reported as the country that exported the largest amount of crude oil to China at 174,000 bpd[16]. This figure was up from the previous year’s 43,000 bpd. The second highest exporter was Sudan, whose figure was at 43,000 bpd, up from zero in the previous year. Congo Brazzaville was also a notable exporter jumping from zero to 19,000 bpd[17]. From 2001 to 2002, there was an extensive branching out of Chinese oil companies across Africa, with most of the sites set up in the North-Western Africa region.

 

3.3 China leading roles in Latin America
3.3.1 China’s commercial links

The commercial role that China plays in Latin America is considered as a win-win situation. While Latin America is in need of investment, China has the financial resources. A dilemma is that Latin America’s greatest investment to date is responsible for the most severe humanitarian disaster that the region has experienced. This reality serves as a significant lesson to the Latin American countries[18]. Such countries are now more vigilant and are aware that some financial help is too expensive, unless there is a change in terms. The track record that China holds implies that this Asian giant should be part of the answer as Latin American’s struggles to control its fallout from Venezuela. It is hard to overemphasize the Venezuelan tragedy since the inflation, economic collapse and infrastructure disintegration has devastated its citizens. In the past few years, more than 2 million people have fled the country, with the United Nations Refugee Agency (UNHCR) expecting another close to 2 million refugees in the next year[19]. Given the extent of damage that the tragedy caused, China has to tread carefully in the course of establishing commercial and economic links with Latin America.

The economies of Latin America highly depend on the trade of non-renewable and renewable commodities such as agriculture, with China being the primary buyer of both. The dependence of Latin America on China is strengthened by the fact that the region recorded a comparatively lower rate of growth of exports to Europe and the United States. Also, economies are now recognizing that the supply chains would be dysfunctional if it is cumbersome to physically move goods. Additionally, a major barrier to sustainable development is lack of connectivity, which also results in unequal opportunities for education, healthcare and income[20]. Since China has realized the mentioned aspect, it promised to offer solutions via its initiative of Belt and Road. By the end of 2018, about 14 Latin-American countries had subscribed to China’s initiative as a sign of their goodwill.

China has continually conveyed a positive message to the Latin-American region. In 2010, the country initiated a think tank forum for China-Latin America while in 2014; China-CELAC (the Community of Latin American and Caribbean States) forum was established. In 2016, China initiated World Political Parties Dialogue. A long-standing tradition held by the Communist Party of China is that of engaging with different representatives coined from developing nations regardless of their governmental position[21]. Such engagements serve as a smart move for democratic futures that are uncertain. There is also the Confucius Institutes that are supported by the Chinese governments and established in different countries including those in Latin-America. Through these institutes, the citizens of other countries can learn more about the language, history and culture of the Chinese. China is known for its positive messaging art of sponsoring local media like China’s special issue. In October, 2018, China was in charge of Semana, a top-rated Colombian magazine[22]. This engagement and involvement of China with Latin-American countries signify the leading role that the country has taken in the continent.

3.3.2 China’s contribution to Latin-America’s economy (Role Of China in global trade governance)

            China has become a significant Latin-America’s new economic actor in the last 15 years. In 1990, the China-Latin America trade was at 10 billion negligible, with the figure increasing to about 10 billion dollars in 2000. In 2012, the trade contributed to 270 billion dollars[23]. Such increasing figures signify the fact that China has a significant impact on Latin-America’s political and economic development. There has been an increasing growth of Chinese loans, investment and trade in Latin-America, with the terms being favorably and conditions being less than those given by traditional Western powers. The role of China in this region can be considered as positive. The high demand of Latin American commodities in China helped in driving the economic boom that was witnessed in the past decade. As a result of the boom, the middle class population doubled in size in Latin America, with the levels of poverty reducing dramatically. Some analysts have speculated that China’s increasing interest to have stable and positive returns may cause the convergence on the rule-based development and investment Western models.

The economic relationship shared between China and Latin-America has had a direct impact on some states of Lain America willingness to work with China in challenging the liberal world order led by the U.S. This is especially true in cases where there is an alignment of interests. The various states of Latin America seem to base their alignment with either U.S. or China on the level of integration and economic ties with each power. This implies that if a state feels that it is more economically tied to China than U.S. it will align with China[24]. As at now, the rise of China’s power in Latin America has not harmed the core national security interests of the United States. However, the significant role that China plays in the region clearly increases its power and influence, consequently challenging the U.S’s influence ad warranting continued attention.

Currently, China is the largest creditor to Latin America, and it mostly funds extensive infrastructural projects. As a result, China has managed to have strong ties some of the capitals in the region. Recently, the President of Argentina, Mauricio Macri declared his intention to deepen his country’s relationship with China. President Iván Duque also recently hosted Li Xiaopeng, the Chinese Transport Minister as an honorable guest during an inauguration ceremony. Andrés Manuel López Obrador, the Mexican President also declared about his intentions to join China’s initiative, Belt and Road, with the hope of strengthening the ties between China and Mexico[25]. In the last decade, the amount of money that Latin America has borrowed from China has increased tremendously. Brazil has borrowed 42 billion dollars while Venezuela has borrowed 62 billion dollars. Argentina has received 18 billion dollars while Ecuador has received 17 billion dollars. Those that are deeply indebted to China are sometimes forced to borrow additional loans from superpowers in order to stay afloat. Based on the increased level of borrowing and dependence of Latin American countries on China for their economy and infrastructural growth, it is clear that China holds a leading role in Latin America.

3.4 China leading role in Asia -Role Of China in global trade governance

Though the long-term strategic goals of China are unpredictable and uncertain, it seems as though China is seeking a leadership role in Asia. Although less certain, there is still a probability that one of China’s strategic goals is to minimize the influence that the United States has in Asia. The behavior that China has continually displayed towards the Asian neighbors showcases its intentions to expand its role in Asian region in the future[26]. During the fifth China debate series in Carnegie, one of the issues raised concerned the probability of a strategic conflict arising between China and the United States over Latin American dominance. It seems as though China’s ultimate goal is to overthrow the U.S and hold a significant position in Latin America.

China’s aim is to reshape the political systems and economies of Asia to suit its specific needs. Although the military capabilities of the U.S are still dominant in Asia, China’s military power has started to establish its footprint in the region. The longtime allies of America such as Indonesia and Philippines are gradually starting to get closer to China[27]. This power shift may increase under the leadership of President Trump. President Trump’s refusal of trade agreements and unstable foreign policy has forced some Asian nations to have second thoughts about their strategies. A trade deal that was made in March, 2018 was a powerful indicator that nations such as Japan and Australia were progressing without the help of American leadership. Virtually all Asian countries currently trade with China. The trade ties will continue to increase as the economic growth of China surpasses the United States’ growth.

China is currently the largest exporter to developing economies, and has been called to represent Asian interests. There is also a possibility of China leading the efforts to maintain a balance between the developing nations’ interests and those of the developed nations in multilateral trade agreements. According to a study carried out by an Asian economist, the Association of Southeast Asian Nations (ASEAN)’s free trade with China would result in mutual wealth, by partly diverting the trading activities of ASEAN to China from the Western economies[28]. Some experts have projected that free trade deal between ASEAN and China would conflict the trade agreements with North America and the European Union. Such rivalry would imply that China would become a leading trading partner with Asian countries and hold a top role in Asia.

Role Of China in global trade governance assignment Help

The foreign policy domain of China has traditionally considered its East Asian region neighbors. The states in these Asian regions had tributary ties with China both during and before the Qing dynasty. The East Asian region has a heavy influence of Chinese culture. For instance, the culture of Japan originated from China’s Tang Dynasty while the Korean culture was heavily influenced by the Chinese religion and art[29]. A similar case applies to Southeast Asia, particularly Vietnam. Buddhism spread from India via Tibet into China and then travelled outward to the Southeast and northeast Asia. Northeast Asia’s incorporation of Confucianism thinking also serves as a unifying foundation between China and Asia. Korea, Vietnam and Japan’s writing language has incorporated Chinese characters for several centuries, with Japan still using it.

Human ties also exist between China and Asia. The Chinese people are now spread across Southeast Asia, with most of them engaged in various business activities. Some of the notable places are Indonesia, Singapore, Malaysia, Cambodia, and Thailand. An essential economic fabric element is formed by the overseas Chinese in the mentioned countries[30]. China is the preferred power for direct investments as an increasing number of Asian countries have shown the willingness to trade with China. The transformation following the ties with China has been felt in Asia, with major regional economies enjoying substantial growth. For instance, the trade between China and Taiwan quintupled between 1993 and 2003. China’s trade with Malaysia rose by eleven fold within those 10 years while its trade with India rose by twelve fold. The increase in trade relations between China and Asian countries is clear evidence that China’s role in Asia is powerful.

All the economies of East Asia, which are, Thailand, Taiwan, South Korea, Japan, Indonesia, Malaysia, Singapore, India, and Philippines have a significant trade surplus in China. The manufacturing sector of China heavily depends on the imports from East Asian economies. These imports are required for feeding the factories, with the export-producing machine inclined to the west. This trade interdependence has made the East Asian countries to appreciate China. This region considers the continued prosperity and growth of China to be pivotal for its own economic progress. In 2004, China became the leading trade partner of Japan, passing the United States[31]. Observers noted that China’s boom was a significant factor to help in lifting the economy of Japan out of a decade long stagnation.

In the past years, China has pursued significant security ad political initiatives with Asian countries. In 2005, the border dispute that the country had for several centuries with Russia was settled. The then Chinese Prime Minister, Wen Jiabao also made a visit to New Delhi, India to formulate a strategy for negotiations between the two countries to settle their border dispute[32]. The decision made by China to shelve its territorial claims towards Spratly Islands was a move that aimed at establishing a peaceful environment between China and the Asian neighbors. Such a peaceful environment was necessary for economic progress and development to be achieved in the two regions.

While China considers Southeast and East Asia as sources of investment and key trading partners, it looks to west and north Asia for gas and oil to meet its energy needs. The energy consumption of China is increasing at the rate of 15 percent per annum, which means that its oil demand is set to increase even more in the future. The country’s import of oil from Saudi Arabia has increased massively[33]. With China’s intention to diversify its energy sources, Russia and Central Asia are central to this plan. Such significant moves and the inclusion of Asian countries indicate that China has a powerful influence and role in Asia, with both regions benefiting in terms of economic growth.

The analysis suggests that China uses trade and investments to increase its political influence as well as “back door” challenge to the U.S. world political and economic dominations. China has played a fundamental role in Global Trade Governance. It’s leadership role in Africa, Latin-America and Asia is evident in the economic and trade ties that it has made with these regions.

The role of China in global governance can be seen in Sino-African relations where both China and Africa adjust to policy initiatives that emanate from the other. For instance, the majority of African governments support China’s “One China” policy, a move that has helped to attract Chinese investment and aid. African governments engage with China for political legitimacy and recognition. The economic relationships between China and Latin America enabled governments to pursue their policies of interests more aggressively. This is especially the case with nations that have good governance environments. There is a possibility of China to use its military power to control Asia’s politics and government policy. An institutional approach is used by china to expand its political influence, which means that it uses international cooperation.

• Role Of China in global trade governance

 

 

 

 

 

 

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[3] Cheong, Ching, and Ching Hung-yee. Handbook On China’s Wto Accession And Its Impact.

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[6] Rotberg, Robert I. China into Africa: Trade, Aid, and Influence. Cambridge, Massachusetts:

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[9] Albert, Eleanor. China in Africa. Council on Foreign Affairs, July 12, 2017. Accessed on           March 14, 2019. https://www.cfr.org/backgrounder/china-africa

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[11] Cheong, Ching, and Ching Hung-yee. Handbook On China’s Wto Accession And Its Impact.

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[13] Rotberg, Robert I. China into Africa: Trade, Aid, and Influence. Cambridge, Massachusetts:

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