China & WTO & PNTR

[Brad De Long]

>The news of the last few days make it look like even if American labor won
>the fight for keeping China's annual review, it wouldn't do a thing to
>stop China from entering the WTO.  All it would do, it seems, is give
>China a legal warrant to keep American companies from enjoying the
>concessions that Japanese and European companies would enjoy.  And that
>could continue until annual review is finally revoked.  Without America
>having any warrant to retaliate in the meantime.
>
>So I'm stumped.  It's looks like victory would be pure loss with no gain. 
>What am I missing?
>
>Michael

Not much...