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China and the Reform of International Trade Governance System

Social Sciences in China, 2021

Vol. 42, No. 3, 2021

 

China and the Reform of International Trade Governance System 

(Abstract)

 

Dong Yan and Li Chunding

    

The 21st century has carried the international trade governance system into a period of accelerated reshaping. The reform has been fueled by many factors including the requirement of the in-depth development of global value chains for cross-border institutional coordination, the requirement of the form of digital economy for new digital rules, and the requirement of the dominant countries under the traditional international trade governance system for the maintenance of their own interests. The reform of international trade governance system has driven China to adjust itself to external pressures while creating opportunities for the country to deepen the reform and join international trade governance. China as a beneficiary and firm supporter of economic globalization has rapidly grown from a marginal participator in economic globalization into a builder and contributor of the governance of the international trading system. It plays an active part in the reform of international trading system and the construction of a community of shared future for mankind by means of the making of rules, the reshaping of rules, the adjustment of rules, and the adaptation to rules. In addition, the critical measures for China to cope with the changes of globalization also consist in its deepened domestic reform, proactive opening-up, facilitated alignment with domestic and international rules, and an institutional environment suitable for the new situation of a “dual circulation” development pattern.

 

Keywords: international trade governance system, international economic and trade rules, CPTPP, WTO reform