A test case on trade

A question crucial to the worldwide oil and gas industry will receive an unusually thorough appraisal in US politics this year. Congress will address the question during the year's first half. And candidates for the US presidency will define themselves politically by the answers they offer.The question is whether China should become part of the World Trade Organization. For many industries, oil and gas among them, the answer affects business opportunities in a developing economy with enormous potential.But the oil and gas industry has an even more important reason to concern itself with the question: future growth of energy markets. Global economic development, the most important fact...

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