China-The WTO.

CHINA-THE WTO.

In 2001, China became the first centrally-planned economy admitted to the World Trade Organization (WTO) -- the only global international organization designed to facilitate multilateral trade between its member nations. The WTO’s self-professed primary purpose is "to open trade for the benefit of all."

"The purpose of the World Trade Organization is to make the world better off, measured by values that determine what is better and what is worse," said University of Michigan law professor Joseph Vining at the recent Kearny Alliance/ASU Forum on Trade , China and the World Economic Order. The W. P. Carey School of Business and ASU’s Sandra Day O’Connor College of Law are partnering with The Kearny Alliance to host the forum.

One question at the heart of the forum’s discussion was this: Has China’s membership in the WTO, in fact, made the world better off? The tentative answer, at least, seems to be yes.