China and the WTO: China's Challenge
             The September 11, 2001 terrorist attacks on the World Trade Center and the Pentagon is
             a somber lesson to remind the world of how important it is to get globalization right.
             Now its clearer than it has been ever that the world is split between those who benefit
             from the increasing wealth and openness of globalization and those who oppose and
             intend to destroy globalization. The difference of two beliefs will mean a world of
             increasing trouble, ranging from environmental degradation to political instability to
             terrorism. Few places matter more in the debate over globalization than China.
             Less than a week after the terrorist attack on U.S., China passed an important milestone
             in its development, one that was unnoticed as the world struggled to understand and
             respond to the terrorism. On September 17, in Geneva, the World Trade Organization
             (WTO) agreed on the final terms for the country to join the international trade body.
             Entry into the WTO is the most significant event since China began economic reforms a
             quarter-century ago. WTO membership, coupled with the awarding of the 2008 Summer
             Olympics to Beijing in July 2001, will help China reclaim a place on the world stage that
             it has lost in the last two centuries.
             The rest of the world wonder if China truly deserve its membership at WTO. The worry
             in which the rest of the world regards China's entry into the WTC is quite and irony:
             Chinese officials and companies are every bit as afraid of what WTO membership will
             mean for them as the rest of the world.
             There are many good reasons for Chinese to be uncertain about what the WTO
             membership will bring. China's homegrown enterprises worry about the thundering herd
             of savvy, well-financed, technologically sophisticated foreign companies, that they
             believe will invade the Chinese domestic market after WTO accession. T...