August 2003

By Wayne M. Morrison on August 6, 2003

After many years of difficult negotiations, China, on December 11, 2001, become a member of the World Trade Organization (WTO), the international agency that administers multilateral trade rules. Under the terms of its WTO membership, China agreed to significantly liberalize its trade and investment regimes, which could produce significant new commercial opportunities for U.S. businesses. A main concern for Congress is to ensure that China fully complies with its WTO commitments. According to U.S. government officials and many business representatives, China’s WTO compliance record has been mixed. This CRS report provides a summary of key issues in U.S.-China trade relations since China’s accession to the WTO.

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Peony Lui

Topics:

Economy

Politics

Keywords:

World Trade Organization

Trade

U.S.-China Relations

Organization:

Congressional Research Service

Asia Pacific Economic Cooperation (APEC), Free Trade, and the 2003 Summit in Bangkok, Thailand

By Dick K. Nanto on August 1, 2003

On October 20-21, 2003, the Eleventh APEC Leader’s Meeting is to be held in Bangkok, Thailand. The theme for APEC 2003 is “A World of Differences: Partnership for the Future,” which is intended to bring together the best potential of all APEC economies to confront the challenges of the future, particularly in achieving the APEC goal of free and open trade and investment for developed APEC economies. APEC is an association of twenty-one economies bordering the Pacific Ocean who are working cooperatively to reduce barriers to trade and investment; ease the exchange of goods, services, resources, and technical know-how; and strengthen economic and technical cooperation. For the United States, APEC raises fundamental questions that are of special interest to Congress. One is whether consensus can be achieved on the APEC vision of free trade and investment in the Asia Pacific or whether future trade liberalization will be confined primarily to bilateral free-trade agreements or multilateral trade negotiations under the World Trade Organization.