On the Question of Our Joining the World Trade Organization

In 1992, and again in 1993, I came to the Central Party School to talk about the problems surrounding our country's entrance into the World Trade Organization (WTO). Five years have elapsed since then, and yet the negotiations regarding China's entrance into the WTO have not yet come to a close, and here I am, again, still talking with you about the same problems and raising the same old issues. Indeed, as someone who has taken part in the negotiations on the front line of this whole affair, I truly feel quite ashamed [at the lack of progress]. Today, as I come to talk with you, I would like, on the one hand, to explain to you the situation that we are in, and, on the other hand, I hope to be able to win your understanding and support. I'd like to talk briefly about three issues. First of all, why is it that, after so many years of bargaining and negotiations, we still have not yet come to the heart of the problem? What are the reasons behind this situation? Let me say, however, that my purpose is not to try to find some excuse to exonerate those comrades who, like myself, are in charge of and are responsible for this area of work, for our inability to have completed our task. What I mainly would like to do is see if I can explain to you, my comrades, some of the problems that lie at the deeper levels of the issue. Second, why is it that we are still involved in the negotiations and will continue to be in the negotiations? In other words, what are the pros and consâor advantages and disadvantagesâfor us if we joined the WTO? And why do we believe that the advantages are greater than the disadvantages? Third, I would like to say something about the guidelines that lead us in our negotiations at this time, and the overall shape and conditions that the negotiations are in.

On the Question of Economic Globalization

In July of last year, a financial crisis that originated in Thailand rapidly swept across all the countries of Southeast Asia and then affected Korea and Japan, eventually causing tremors all over the globe. This brought people to a deeper realization of the increasingly intricate interrelationships among the economies of the countries of the worldâthe relationships of mutual linkage, penetration, influence, and interdependenceâthat exist among all our economies around the planet. The globalization of the economy has become indeed an unavoidable reality, a great trend that does not depend on human will. Only when we look at the issues against the broad backdrop of economic globalization can we have a fuller and better understanding of the deep-seated reasons that caused the Southeast Asian financial crisis, and only then can we bring forward [sound] policy proposals that are in conformity with reality regarding how we may best do our economic work in the future.