China's WTO entry

Most analysts who followed China's painstaking efforts to enter the World Trade Organization (WTO) expected China's entry in 2000. Unfortunately, the inability of the WTO and China to see eye-to-eye on the reduction of price supports for agriculture is stalling progress today.Analysts, however, still expect China's entry to happen this year.What will China's entry into the WTO mean for the Chinese refining and petrochemical industries?Entry into the WTO will make China's downstream petroleum businesses more susceptible to competition from foreign and private sector participants. Certainly, existing inefficient companies should expect their market shares to decrease and...

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