China’s Broken Promises

When China entered the World Trade Organization in December 2001, pundits and policymakers alike enthusiastically hailed it as a seminal moment that heralded China’s embrace of market-based economic principles and commitments to the core tenets guiding liberalized trade and globalization. Unfortunately, after almost 15 years of Chinese membership in the WTO, it is becoming increasingly clear that the vision of China embracing a rules-governed, market-based global trade system has yet to materialize, Stephen Ezell writes in The International Economy.