But more to the point, as a member of the WTO China currently enjoys lower trade barriers with the U.S. than it would otherwise.
It started its WTO practice soon after China joined the WTO in 2001 and is currently working on the "steel pipes" case against the U.S., in the first WTO dispute launched by China to reach the expert panel stage.
WTO, China would have access to mechanisms to sort out multilateral disputes.
Others are not so lucky: upon joining the WTO, China agreed to allow foreign firms to compete to offer booking systems to local airlines, but according to the European Chamber it has not yet produced the necessary regulations.
The year before China joined the WTO, the United States and China each produced about 100 million tons of crude steel.
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The economic aspects of the U.S.-China WTO accord are hard to argue against.
The phase out is written into the WTO rules and China and India would not agree to a delay.
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As part of its WTO agreement, China now circulates draft laws and regulations for 30 days to collect comments.
With WTO membership, China will make significant cuts in its tariffs, thus opening its markets to the products and investment of America and other countries.
The latest salvo was fired on June 23rd by America and the European Union, which complained to the World Trade Organisation (WTO) about China's restrictions on the exports of nine minerals, including bauxite, coke, magnesium and manganese.
This strategic momentum has carried into 2012, as the recent WTO agreement with China, highlighting IMAX, should enhance programming flexibility in our biggest international market, and we have also made early progress toward igniting network growth in Latin America and Europe.
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Both China and WTO members will need to show more flexibility in future.
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Foreign Ministry spokesman Zhu Bangzao said Thursday the bombing had cast a cloud over the WTO talks, but China still wanted to join.
In its WTO accession agreement, China also committed to simplify and streamline the approval process for wireless communications equipment into a single process but has not yet done so.
As for the WTO itself, bringing China in would not only open up what is potentially the world's biggest consumer market, but it would also ensure that China does not stand aloof from the trading rules that govern commerce in the globalized new century.
After joining the WTO in late 2001, China set up a nationwide court system for dealing with intellectual property right issues.
And China's WTO entry is unlikely to reduce the number of regulations.
Without these, problems could get worse after China joins the WTO.
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Foreign brands remained dominant at the time of China's WTO entry.
The deal under which China joined the WTO was at least as good as any the US has negotiated itself, according to both the US administration and Congress.
What is Japan's position on China joining the WTO?
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If you need more evidence that the antidumping status quo is weighted heavily against import-consuming U.S. industries, consider this gem: three of the nine mineral raw materials that are the subject of the U.S. case against China in the WTO (magnesium, silicon metal, and coke) are simultaneously subject to U.S antidumping restrictions.
Barely nine months after China joined the World Trade Organization (WTO) on December 11, 2001, I sat at a U.S.-China Business Council luncheon in Beijing featuring U.K. journalist Joe Studwell speak on his book The China Dream: The Elusive Quest for the Greatest Untapped Market on Earth.
But once China was in the WTO, its steel output rose rapidly while U.S. production drifted downward.
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WTO's working party on China, whose Swiss chairman issued a stern reprimand to all parties at the end of the most recent meeting, is to meet again in early November.
And even when China has more highly trained WTO lawyers, they still need the experience of winning and losing WTO cases, which are small in number each year.
He wanted China to get into the WTO, both for the prestige it would bestow on the nation in the eyes of the world, and for the support it would give to China's reforms.
Diplomats are, however, confident that China's long march to WTO membership will this year finally be over.
In retaliation, China filed two of its own WTO complaints against the United States during the year.
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