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Abstract
The 21st century has carried the international trade governance system into a period of accelerated reshaping. The reform has been fueled by many factors including the requirement of the in-depth development of global value chains for cross-border institutional coordination, the requirement of the form of digital economy for new digital rules, and the requirement of the dominant countries under the traditional international trade governance system for the maintenance of their own interests. The reform of international trade governance system has driven China to adjust itself to external pressures while creating opportunities for the country to deepen the reform and join international trade governance. China as a beneficiary and firm supporter of economic globalization has rapidly grown from a marginal participator in economic globalization into a builder and contributor of the governance of the international trading system. It plays an active part in the reform of international trading system and the construction of a community of shared future for mankind by means of the making of rules, the reshaping of rules, the adjustment of rules, and the adaptation to rules. In addition, the critical measures for China to cope with the changes of globalization also consist in its deepened domestic reform, proactive opening-up, facilitated alignment with domestic and international rules, and an institutional environment suitable for the new situation of a “dual circulation” development pattern.
Notes
1 Richard Baldwin points out in his 2011 article that the trade rules of the 20th century embodied through the world trade system cannot meet the requirement of the trade development in the 21st century for rules anymore. See Richard Baldwin, 2011, “21st Century Regionalism: Filling the Gap between 21st Century Trade and 20th Century Trade Rules.”
2 Aaditya Mattoo and Robert Staiger hold in their 2019 working paper under the National Bureau of Economic Research that the trade wars launched by the United States make the “rules-oriented” trade rules changing into the “power-oriented” negotiations on trade rules. See Aaditya Mattoo and Robert W. Staiger, “Trade Wars: What Do They Mean? Why Are They Happening Now? What Are the Costs?”.
3 Ju Jiandong, “Impacts of Sino-American Trade Disputes and the Long-term Development Path of China.”
4 Jagdish Bhagwati, “The Diminished Giant Syndrome: How Declinism Drives Trade Policy.”
5 Dong Yan, “Institutional Friction, Coordination and Institutional Opening-up,” pp. 79-86.
6 United States General Accounting Office (GAO), International Trade: Intensifying Free Trade Negotiating Agenda Calls for Better Allocation of Staff and Resources.
7 World Trade Organization, “Decision Removes Final Patent Obstacle to Cheap Drug Imports.”
8 Craig VanGrasstek points out “international treaties were long used by Western countries to oppress China.” See Trade and American Leadership: The Paradoxes of Power and Wealth from Alexander Hamilton to Donald Trump.
9 Jiang Yuechun and Zhang Yuhuan, “WTO Reform and Prospect of Multilateral Trading System.”
10 Xue Rongjiu, “The Significance, Function and Maintenance of China’s Entry into WTO.”
11 Wei Yueling and Zhang Hongsheng, “Trade Policy’s Uncertainties, Export and Enterprises’ Production Efficiency: An Analysis Based on PNTR Experience”; Jin Bei, Li Gang and Chen Zhi, “An Empirical Analysis of the International Competitiveness of China’s Manufacturing Industry since China’s Entry into WTO.”
12 Jian Ze, Zhang Tao and Fu Yulin, “Import Liberalization, Competition, and Total Factor Productivity of Local Enterprises: A Natural Experiment Based on China’s WTO Entry.”
13 Li Chunding, He Chuantian and Lin Chuangwei, “Evaluating the Effects of China’s Countermeasures to China-US Trade Frictions.”
15 Gene M. Grossman et al., “The ‘New’ Economics of Trade Agreements: From Trade Liberalization to Regulatory Convergence?”.
16 Zhang Monan, “The Upgrading of the Global Economic and Trade Rules System Is Accelerating.”
17 Wang Chunli and Feng Li, “The Impact of Restructuring of International Economic and Trade Rules upon China’s Opening-up and Coping Strategies.”
18 Wang Chunli and Feng Li, “The Impact of Restructuring of International Economic and Trade Rules upon China’s Opening-up and Coping Strategies.”
19 Yuan Zhengqing, Li Zhiyong and Zhufu Xiaofei, “China and the Reshaping of International Human Rights Norms.”