"WTO" is short for _______ .
A、World Tourism Organization
B、World Travelling Organization
C、World Trade Organization
D、World Tolerance Organization
A、World Tourism Organization
B、World Travelling Organization
C、World Trade Organization
D、World Tolerance Organization
WTO is short for World Trade Organization.()
WTO is a short form. which stands for World Trade Organization”.()
As for China, through 13 years of difficult negotiations, China has finally realized its (10)_____ of joining the WTO as a developing country: the bilateral agreement between China and the United States (11)_____ this fundamental principle. China's entry into the WTO as a developing country is (12)_____ great significance, implying as it does that China will enjoy, according to law, a developing country's preferential arrangements, protection of and export subsidies for its embryonic industries, as well as elastic stipulations in the tariff system. For example, China will (13)_____ for a six-year period a 25 percent import tax rate for its auto industry; in the agriculture sector, most of markets (wheat, maize, rice, cotton, sugar, and fertilizer) will be franchised by the State so as to ensure the State has (14)_____ means of macroeconomic control, there by (15)_____ farmers' interests; and the banking sector will gradually open during a transitional period. Moreover, in some sectors, the markets will still remain closed, or, at least, the 'opening of these markets has to be specifically (16)_____ by the Chinese government. Only developing countries have the right to enjoy the above-mentioned buffer opportunities. The Sino-U.S. agreement further contains no (17)_____ prohibiting China from adopting WTO exceptional clauses; instead, China can adopt exceptional clauses which are exclusively (18)_____ to developing countries. This objectively recognizes that China enjoys status of a developing country and means that China can adopt such exceptional clauses as protection of its infant industries. Should its domestic markets be seriously affected or harmed by external factors? China can adopt temporary measures to compensate.
In short, China's (19)_____ to the WTO as a developing country ensures that China's obligations to the WTO are (20)_____ with its current development level, thus greatly reducing the negative effects to China's industries resulting from its entry into the WTO.
A.bending
B.ranking
C.deciding
D.prevailing
As for China, through 13 years of difficult (10)_____, China has finally realized its (11)_____ of joining the WTO as a developing country: the bilateral agreement between China and the United States (12)_____ this fundamental principle. China's entry into the WTO as a developing country is of great significance, implying as it does that China will enjoy, according to law, a developing country's preferential arrangements, protection of export subsidies for its embryonic industries, as well as (13)_____ stipulations(协定) in the tariff system. For example, China will retain for a six-year period a 25 percent import tax rate for its auto industry; in the agriculture sector, most of markets (wheat, maize, rice, cotton, sugar, and fertilizer) will be franchised by the State so as to ensure the State has (14)_____ means of macroeconomic control, thereby (15)_____ farmers' interests; and the banking sector will gradually open during a transitional period. Moreover, in some sectors, the markets will still remain closed, or, at least, the opening of these markets has to be specifically (16)_____ by the Chinese government. Only developing countries have the right to enjoy the above- mentioned buffer opportunities. The Sino-U. S. agreement further contains no (17)_____ prohibiting China from adopting WTO exceptional clauses; instead, China can adopt exceptional clauses which are exclusively (18)_____ to developing countries. This objectively recognizes that China enjoys status of a developing country and means that China can adopt such exceptional clauses as protection of its infant industries. Should its domestic markets be seriously affected or harmed by external factors? China can adopt temporary measures to compensate.
In short, China's (19)_____ to the WTO as a developing country ensures that China's (20)_____ to the WTO are compatible with its current development level, thus greatly reducing the negative effects to China's industries resulting from its entry into the WTO.
A.capability
B.ability
C.capacity
D.aptitude
Section B
Directions: In this section, you will hear 3 short passages. At the end of each passage, you will hear some questions. Both the passage and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A, B, C and D.
听力原文: Since last December, China was preparing to open U.S. market on clothing and textile. China's exports of cloth lng and textile products to the United States jumped more than 50 percent in the first eight months of 2005 to nearly $17.7 billion following the end of a global quota system on January 1.
That prompted U.S. textile producers to seek protection under a "safeguard" provision of China's 2001 entry into the World Trade Organisation since April. The measure allows WTO members to restrict the growth in imports from China to 7.5 percent annually when there is a market-disrupting rush.
The Bush administration has imposed safeguard restricts on billions of dollars' worth of Chinese clothing imports this year. But because the restricts have to be renewed annually ,textile groups have pushed for a comprehensive agreement that would limit imports until 2008 when the safeguard provision ends.
US textile and clothing companies and their labor unions were pushing for a comprehensive deal to prevent a flood of Chinese imports that began last January when global quotas, in place for more than three decades, were lifted.
Cass Johnson, president of the National Council of Textile Organizations, said on Sunday the new textile agreement was expected to restrict 34 categories of clothing and textile imports from China through 2008.
(27)
A.In last December.
B.In January.
C.In April.
D.In August.
Chinese Economy
The size of the Chinese economy is likely to climb, in world rankings, from its current position as the sixth largest to the second largest by 2030, said economists with global investment bank Lehman Brothers.
With its gross domestic product (GDP) growing at an annual rate of 6 per cent, China will come in after the United States to secure the second place spot, the economists said.
Such an economy stands to offer exciting business and capital market opportunities to foreigners over the next 10 years or so, said Robert Subbaraman, a Lehman Brothers senior economist who is the co-author of a newly released comprehensive report on China's economic, political, social and foreign policy prospects over the next 10 years.
At a press conference last week in Beijing, Subbaraman and his colleagues offered detailed explanations of their forecasts regarding the impact of the country's accession to the World Trade Organization (WTO), growth opportunities and how to do business in China.
WTO Impact
China's economy will be disrupted in the short term, but in the long run, it can benefit immensely from its WTO entry, said Subbaraman.
Rising numbers of bankruptcies and displaced workers are likely, as increased trade competition after the WTO forces a reallocation of resources away from protected and less competitive industries to sectors where China has more of a comparative advantage, he said.
According to the International Monetary Fund, WTO accession will subtract 0.3 per cent from China's real GDP growth in the first year.
Subbaraman said potential losers from the accession include the highly protected agricultural, telecommunications and banking sectors and some of the more capital-intensive ones such as the auto industry.
Besides short-term adjustment costs, WTO accession will have a profound effect on the composition of China's balance of payments, he said.
The reduction in trade barriers will lead to a substantial increase in merchandise imports but only a modest rise in exports.
Furthermore, WTO entry will help spur the development of the legal and regulatory framework and accelerate reform. in the bank and enterprise sectors, thus creating demand for foreign services — financial, accounting, management consultancy and legal — to support restructuring.
As a result, the current account surplus of US $ 20.5 billion in 2000 is likely to decrease and could sink into a small deficit by 2003, Subbaraman said in his report.
However, the decrease in Chinas s current account should be more than offset by an improvement in the capital account, noted Paul Sheard, chief economist for Lehman Brothers Asia.
The liberalization of China's services sector should attract stronger FDI (foreign direct investment) inflows, while measures to strengthen the rule of law and to broaden and deepen the bond and equity markets should help deter portfolio capital flight.
"On our estimates, actual FDI will soar from US $ 46. 8 billion today to a round US $ 65 billion by the end of 2003,” he said, adding that China's overall balance of payments surplus is expected to increase steadily in the coming years.
"This means that the tendency for the RMB will be to appreciate once China begins to move toward a more flexible exchange rate regime," he said.
In the long run, WTO entry is expected to add around 1.3 per cent per annum to China's GDP growth, he added.
"We are optimistic that China will achieve an average 6 per cent growth over the next two decades," he said at the press conference.
Business Bible
In the report, Subbaraman said the answer to the question: "Should we be there? is a cautious "yes” for multinational inv
A.Y
B.N
C.NG
A.The WTO Statutes.
B.The WTO Organization.
C.The WTO System.
D.The WTO Members.
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