Cato Institute Book Review session: China's Implementation of the Rulings of WTO by W. Zhou

This event took place at Cato, Washington, DC, December 4, 2019 led by the Moderator James Bacchus, Weihuan Zhou of the University of New South Wales-Sydney, presenting, and Simon Lester of Cato, commenting.  The book: China's Implementation of the Rulings of the World Trade Organization, order online-- WWW.IPBBOOK.COM 

Professor Zhou offered his own evaluations of how China is faring in the WTO, particularly pointing to its record of handling complaints and disputes that have surfaced in DSM, the WTO mechanism for settling disputes.  I believe that part of his presentation was especially helpful in understanding why China takes so seriously its participation in WTO for expanding its trade and commerce network: viz., it demonstrates its willingness to be a true and trustworthy trading partner.  His book cites several instances of disputes with complainants and how China sought to comply with rulings against them.

Added to this feature in his talk, Dr. Zhou compared China's record of WTO compliance with that of the United States, which obviously has been a member of WTO many years longer.  He noted that the US does indeed make the effort to comply, though at times takes several times longer than it should take to do so.

But the important aspect of his opus is in highlighting the need for the WTO itself  to make improvements in its rules and procedures.  He noted that the organization does not support commercial innovation in that it permits companies of the larger nations to suppress industry-wide sharing of its professional, technical advances that are already on the market.  He observed that the practice of dumping is still allowed by its rules, too.  And he especially named the Chinese government for the practice of subsidizing home-grown favored industries to counter competition from abroad. 

All-in-all, if you missed his talk, you missed a vital contribution to establish global cooperation and foster international innovation among trading partners--the very aim of Globalization since the Seventeenth Century.  We'll be hearing from this erudite lecturer again and often!       

Brookings Institution undertaking study on the Global Impact of China as an entry on the international scene

To launch the project a meeting was held at the Brookings, Wasington, DC on December 2, 2019.  Bruce Jones Vice President of Brookings gave welcoming remarks to the participants, and  Assistant Secretary of State David Stilwell was featured speaker, his talk emphasizing the importance of multipluralism in recognizing diversity among nations as he saw it a means for tolerance and cooperation, particularly during this period of China's entry on the world stage.  Nevertheless, the study to be undertaken by Brookings, a major "think-tank" in the world, should produce helpful recommendations for both China and the US that will lead to greater appreciation of China as a world leader and at the same time lessen tension and conflict between the two (as both seek to influence and promote their trade in the East).  This particular session was to concentrate on particulars in the East Asian region.

A panel was assembled to round out the day's conversation and comments about the project as pertaining to East Asia: Richard Bush, Lindsey Ford, and Jonathan Stromseth all from Brookings, joined with Lynn Kuok of the University of Cambridge and Evans Revere with the Albright Stonebridge Group. 

But it was Lynn Kuok who seemed well aware of the problems being encountered as China and the US provide trade networks throughout the area.  Trade and business with both these two great powers will help the region's nations to develop and grow to become full partners in international trade.  However, the tendency has become in the West, ever since the Cold War with Russia, to regard "the other nation" as competitor and even as adversary to the US.  No doubt, the Communist adherents in China so regard US presence in East Asia an intrusion upon China's sphere of influence.  And, no doubt, the US' backing off from the TPP has only netted indication that America doesn't really care about lending aid and giving assistance to countries in that region, despite US efforts that show the contrary is true, as pointed out by Jon Stromseth in discussion.

I indeed hope the august group Brookings has assembled will promote healthy dialogue and useful recommendations regarding the need for strong ties as full trading partners all the nations in East Asia--Indonesia, Malaysia, etc.--with the US and with China.