On Thu, 13 Jan 2000, Rakesh Bhandari wrote:
> >Rakesh, do you think the Chinese working class should support or
> >oppose China's WTO entry?
>
> Doug,
> It seems to me that China has given up way too much in terms of financial
> liberalisation, iprs, termination of foreign exchange balance requirements,
> indiscriminate opening up of product lines to foreign invasion, foreign
> rights over equity, etc. in order to win the US's approval for entry into
> the WTO. Quite possible that from the perspective of the Chinese working
> class there will be more disadvantages than gains from guaranteed access to
> world markets. But I have no idea.
>
> Just my impression: in terms of the particular accord that has been
> struck, it may do more harm than good, but being shut off from the biggest
> market in the world (and dollars) could be catastrophic as well.
So Rakesh, is it fair to characterize your position that you think the best thing that could happen to third world workers at the moment is that their countries should develop; and the best means of development is entrance to the WTO on more generous terms than are currently being offered (i.e., that they should get what was once called hopefully "Special and Differential Treatment (SDT))? And that you think this would allow those countries to adjust gradually to international competition and (hopefully thereby) grow local capital industries that would otherwise never develop? That such industries are a sine non que for a country to ever imagine being able to move from the third world to the first, (following in the footsteps of, say, Korea)? And such an upward progression is currently the best real medium-term hope of workers of a country such a China?
I just want to make sure I'm grasping what you're getting at.
Michael
__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com