Essay: The Accession of China into the WTO

Sample Essay

The infrastructure of China is designed to provide a sensitive balance of quality and quantity without compromising on the rapid economic growth that the economy of the country has now become infamous for. The accession of China into the WTO serves to loosen up trade restrictions applied on foreign countries and allow for the accession of foreign investment directly into the infrastructure of the country. This comes as more than a favorable opportunity for a country such as Australia and is greeted by Australian investors.

Australia and China have already established an understanding in the food sector (Chunlai, 2008). Both countries have agreed to the need for a conclusion of a Memorandum of Understanding on Scientific & Technological Cooperation in Food Safety.

Of course, even though all these opportunities exist, there still remain technical barriers to overcome in order to allow for the successful use of these opportunities. It is necessary therefore that regulatory bodies and standardization be kept to no higher than a level where their efficiency outruns their cost of time and resources. Certification and accreditation have been designed for this purpose and cooperation between the two countries has allowed for the mutual recognition of the established certification, in sensitive areas like wool and mineral ores in particular.

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