December 11 marks the 23rd anniversary of China’s accession to the World Trade Organization (WTO), a milestone that has profoundly transformed global trade.
Since joining the WTO in 2001, China has evolved into the world’s largest trading nation and the second-largest economy. Its skilled workforce and top-notch infrastructure turned the country into a global manufacturing hub, attracting businesses worldwide not just for cost-effective production but also for reliability and scalability.
China’s approach to WTO membership was unique. While opening up its markets, it retained state control over key sectors, integrating into the global economy without compromising political stability or sovereignty. This strategy focused on boosting production capabilities and fostering economic growth, which has lifted millions out of poverty and built world-class infrastructure.
For many countries in the Global South, China’s journey is a blueprint for development—achieving growth while maintaining independence. China’s success story supports the idea that globalization doesn’t have to mean westernization; instead, it can be a shared journey where profits, production, and technology are more evenly distributed.
In recent years, rising trade protectionism has challenged the principles of free trade. Despite this, China continues to advocate for open markets and equitable globalization. It has taken steps like granting tariff-free access to African nations and welcoming foreign companies without stringent ownership requirements, showcasing a commitment to mutual growth and cooperation.
Chinese tech giants like Huawei, BYD, and Xiaomi are producing affordable, cutting-edge products that are accessible worldwide. From electric vehicles to green technology, these innovations are helping countries leapfrog into sustainable development, making advanced technology more democratic and inclusive.
As globalization enters a new phase, China’s role is more influential than ever. Its dedication to win-win solutions and collaborative growth sets an example for how major economies can lead responsibly on the global stage.
Reference(s):
cgtn.com
