Free Trade Agreement (FTAs) in China

0 Comment

al or economic mediation has caused other nations, chiefly the ones in Asia Pacific region, to go abroad on preferential trading agreements, thereby, causing consideration from the World Trade Organization regarding the propagation of prejudiced trade agreements (Jiang, 2008). Hence, we will discuss China’s two-pronged free trade agreements, thereby, discussing their ramifications for the World Trade Organization. Moreover, the centralization will totally be on the Chinese viewpoints regarding the association between FTAs and the World Trade Organizations. Also, we will discuss about China’s impetus behind its vigorousness in FTAs and its approach to the negotiations of the same, along with the local roots of China’s FTA strategies. The ramifications of FTAs in China for the World Trade Organizations are inclusive of whether China has discarded mutualism for bilateralism for the sake of its global trade cooperation, whether it anticipates the facilitation of trade liberalization under the World Trade Organization by means of Free Trade Agreements, or whether China has been attempting to maintain its FTAs acquiescent with the rules and regulations of World Trade Organization (Jiang, 2008).One of the most striking developments in foreign relations maintained by China and the Asian financial system in current times is that China, being a developing economy, is vigorously shoving for free trade agreements or FTAs in Asia and the world (Shulong, 2006). In a matter of few years, it is hooked with proposing and incorporating in the free trade agreement talks and discussions with various countries. China has signed a fundamental agreement with the Association of Southeast Asian Nations or ASEAN, thereby,