More recently,

during the spy plane incident over Hainan,

American President Bush

changed the American position toward China

from that of being a world partner

(the approach of the Clinton Administration),

to that of being a competitor

or an opponent in international affairs.

This “bashing” propaganda about China

is considered by many people

a cover-up (or a smoke screen)

for growing American insecurity

in international affairs

and this distortion is accumulative in the brain

washed minds of the American people.

It is also degrading to say the least.

It is like a champion football team that

does not want to play fairly any more

because it is afraid of losing.

It is the fear of being beaten fairly

and decisively on the field,

according to an agreed upon set of rules.

This obsession with human rights

has flared up in many areas

of American foreign policy in recent months.

This rash, sometimes graphic ChinaBashing attitude

is probably driven, in part,

by powerful economic interests

in the United States.

The positions of these powerful interests

will be seriously threatened

by China's entry into the WTO.

These industries, if they are forced

to face stronger competition,

fear losing their shares of their respective markets.

These same interests also

heavily support political parties financially

and therefore have some indirect influence

over government policies.

China has enough ballots to get into the WTO.

The United States alone cannot veto China's entry,

but can make things difficult.

Both China and the United States

will have to adjust themselves

to raise economic efficiencies,

a fact that normally results

from greater competition.

However, what must clearly be seen

are the comparative advantages,

which will benefit all trading partners.

With the reduction of trade barriers,

more efficient use of the world's productive resources

will emerge through greater specialization

by the various countries involved.

In the short-run,

(in the first few years)

there will be dislocations of productive resources,

particularly of labour.

For some industries,

the future will be bleak.

There will be short run unemployment

in some sectors of each country.

It is important that

these countries develop plans,

such as retraining and increased technology,

to make adjustments easier as productive resources

shift from one sector to another.

With greater sharing of international expertise,

these transitions should become easier.

The longrange result will mean

more benefits for all countries;

meaning higher standards of living all round.

China has already made persistent strides

in this direction through its partnership

arrangements with foreign corporations

over the last twenty years,

since the reforms

at the end of the Cultural Revolution.

China has no alternative but

to move forward into the international markets

and in other areas of globalization

of the twentyfirst century.

Not to do so would mean inevitable deterioration or,

perhaps, even complete evaporation of China's strong economy.

Some sacrifices in socialist economic

and political philosophies and policies

are imperative if these goals are to be achieved.

The big advantage that

China has had over the former Soviet Union

is that of cautious gradualism in economic policy.

China's political hierarchy is slowly embracing the theories

and practices of a new socialist market system.

The knowledge and skills gained

from this approach places China

in an excellent position to succeed.

The country sees quite clearly that

a pure command economic system

will not endure to the end

under the inertia of this epoch of brisk globalization.

In the end, China is destined to succeed.

Much of what China will face in the WTO

will be the coincidence of internal policies

that have been formulated in recent years,

although some reconfiguration will be necessary.

To suggest immediate success for China

may be premature at this point,

but there are precedents

that are favourable to China's aspirations.

Such success is difficult to quantify or generalize,

as there are so many factors

that are constantly changing.

It is a gamble.

World recessions, strong economic growth periods,

and disasters such as the September 11th,

2001 terrorist attacks,

can drastically create economic casualties overnight

followed by the “trickle down” negative impacts.

All these being said, it would be

a mistake to underestimate China's legitimate presence

in this period of globalization.

It is indicative, as well as fitting,

that almost all countries of the world

will benefit from the potential contributions

that China can make in the years to come.

The WTO's success hinges on international cooperation

and ceaseless pursuit of positive common goals

rather than focusing on negative issues

that could only handicap good economic

and social relations along with progress

in international trade.

It is hoped that such barriers

between China and other countries

will dissipate now that its membership

has finally been certified.