Koon Yew Yin's Blog
China's WTO entry benefits all consumers - Koon Yew Yin
Koon Yew Yin
Publish date: Mon, 13 Dec 2021, 06:01 PM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
China has become the world’s largest exporter, with a rapid rise in its world trade share just after it joined the WTO in 2001. China’s WTO entry reduced the US manufacturing price index by 7.6% between 2000 and 2006, with most of this effect arising from China reducing its own import tariffs. All consumers including US consumers gained because they paid less for manufactured goods and because they had access to more varieties of goods.
When China joined the WTO, there were two key policy changes that helped boost its exports to the US. First, China reduced tariffs on all of the goods it imports from the rest of the world; and second, China no longer faced the uncertainty of being hit with very high tariffs on its exports to the US, as it was granted permanent normal trade relations status. China’s spectacular export growth post-2001, shown in chart above, has many implications for the rest of the world, with some of the negative employment and wage effects studied
China created history
It’s twenty years since China was admitted to membership of the World Trade Organization (WTO). That presaged a remarkable surge in Chinese trade, an industrial transformation on a scale not seen before in human history, China’s emergence as the world’s largest trading nation and its integration into the global economy in a way that was hardly possible to imagine just two decades earlier. It’s little wonder that the WTO is among the most widely respected international institutions in China today.
China’s rapid growth since its accession to the WTO — per capita incomes are now well over four times as high today as they were in 2001 — was the single most important poverty-reducing event of the past century. China’s decision to join the WTO, and the stringent conditions it had to meet to be accepted, have been major drivers of the vast structural change away from subsistence agriculture, making China the undisputed factory of the world economy. Its rise as a manufacturing powerhouse has profoundly shaped the way the world economy operates, leading to soaring demand for raw materials, challenging manufacturing industries in other industrial countries, and leading to a major shift in the balance of geopolitical power away from the United States and Europe and towards Asia.
The sailing has not always been smooth: while China has a good record of abiding by the letter of WTO law, it has not always lived up to its spirit.
China is the safest country to live in the world
Although they claimed that the coronavirus started in Wuhan, currently China has a total of 99,681 Covid 19 cases and 4,636 deaths. The 7-day average number of cases is 27 daily as shown on the chart below.
USA has a total of 49.9 million Covid 19 cases and 796,000 deaths. The 7-day average number of cases is 119,534 as shown on the chart below. Based on the number of Covid 19 cases in China and USA, China is safer country to live than in USA.
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Discussions
Be the first to like this. Showing 25 of 25 comments
前財政部長樓繼偉坦言中國統計局數字造假，中國真實的失業率究竟是多少？給大家提供幾個不同角度的參考數據！｜米國路邊社 [20211213#179] -
YouTube https://www.youtube.com/watch?v=TfC672Ho4W0
2021-12-14 13:31
The Stock Market Crash Already Started? - What I Am Doing Now
https://www.youtube.com/watch?v=z3HwDz7Jvuk
2021-12-14 14:11
Trillion dollars flee: Chinese people try to move their money abroad (China Insights)
Chinese people and the government have been battling it out over foreign currencies for years. The Chinese are trying every means possible to convert the Renminbi they have into foreign currencies to preserve the value of their wealth.
China's national TV reported on October 29th that the Shanghai Public Security Bureau uncovered the first case of illegal exchange of foreign currency using game point cards.
Covering a wide range of stories about or related China and its role in the world.
https://www.youtube.com/watch?v=rAdkx9uo2hs
2021-12-14 14:14
https://www.youtube.com/watch?v=3KPPIS4cRWQ
Manufacturing and Foreign Capital are leaving/Foreign companies directly employ 45 million Chinese
Although it's not usually easy to relocate a business, in recent years a trend is forming for foreign companies to move out of China.
Some U.S. companies have already started it after the U.S.-China trade war broke out in 2016. Now Korea and Japan, as well as some European countries, are joining the action.
The Chinese Communist Party or CCP denied this trend on several occasions in August 2021, even calling it a rumor.
2021-12-14 14:16
https://www.youtube.com/watch?v=6zvagXwPgg8&list=PL_5DxnDeW_kb5lg_Qu3xOz1LA-0kG8f-0
Covering a wide range of stories about or related China and its role in the world.
2021-12-14 14:19
people can leave if they think they cannot make money........or for what ever reason ........... but FDI into China is at record levels........
2021-12-14 15:06
https://www.youtube.com/watch?v=3pnrwxfQtIo
Is China's economic model broken? | FT
Since the early 2000s some China watchers have been predicting that the building boom would lead to a crash. Twenty years on they may have been proven right. Global China editor James Kynge and Beijing correspondent Sun Yu discuss what is happening in it's real estate sector, what that could do to China’s economy and means for the world.
2021-12-14 16:40
who care ? Ha..Ha..Ha.. everyone entitled his own opinion. Now he is betting heavily on Alibaba shares...
2021-12-14 21:18
https://www.youtube.com/watch?v=ed4ryYokLzU
Why loawhy86 Changed his Opinion on China
2021-12-14 21:31
https://www.youtube.com/watch?v=kOIrsmjRFxU
The Chinese Government Just Tried to Hire Me by loawhy86
2021-12-14 21:34
I just scroll down without reading his articles. Whatever this kyy talk is rubbish just like himself. Look at AT, supermax he once promote. Don fall his trap!
2021-12-14 22:26
WoW ..... Troll VERY ACTIVE here ..... Paid by "Western Media"" ....Uncensored.
2021-12-15 11:01
PS:- Foreigner Maufacturers are in CHINA. Why ??? Even Amazon BUYS >80% of thier PRODUCTS from CHINA.
2021-12-15 11:11
CALLING administrator to BAN "uncensored" from Blog. This is for Business ... NOT Propaganda , Politics or "Paid Trolls" , etc.
2021-12-15 11:21
uncensored,is right,on the other hand we have another exposure as follow
'Sslee, your doggy stockraider aka whistlebower99 aka thehoff aka JKPTR had 2 delete scenery's posts, to cover his spamming n sin for causing millions or ppl to lose huge amount of money in those penny stocks. Bec they undergone PP n share consolidation their worth increase hugely, his bosses wants to collect at low to manipulate price."
2021-12-15 11:36
people like kyy, hugely and incorrectly understand the global macro-economic trend , no wonder they made some investment mistake.for kyy ,His time is over , and he could not understand it ,and would not accept it.
2021-12-15 11:56
uncle licking Xi's toes.
because of china , WHO failed to warn the whole world about how serious is the covid. I hope u can see these fact. and stop promoting how good is your china.
Also they cover up the covid disease in Wuhan initially .
I hope you dun turn an blind eye on this.
Next deadly virus mostly will come from china too.
2021-12-15 12:50
The world is now being threatened by "China consumerism". We were used to be threatened by "USA consumerism".
For company to grow forever, it needs to find potential customers who are willing to spend. It used to be USA. Now China.
2021-12-15 13:02
don,t be silly, if your investment strategy based / leaning toword china consumerism, i am sure you will lost your pant.Only palmoil or food items can find strong demand there.china consumers mostly suck dry or drained in the extremely high cost ,property sector,since property sector collapsed,massive unemplyment engulfed china right NOW.
2021-12-15 13:26
習近平再干5年中国人民的生活不如阿富汗！只有私有制才能降低崩潰來临時的血腥！
https://www.youtube.com/watch?v=7SWBRDvSqaM
2021-12-15 13:50
8090後數億人逾期高達797億，被慾望摧毀人年輕人，農村寶媽一夜負債80W,老公直言離婚。逾期還不上，被催收找上家威脅，寶媽欲哭无泪 -
YouTube https://www.youtube.com/watch?v=FGcdQtls86M
2021-12-15 15:52
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2021-12-14 12:52