China joins the World Trade Organization
- Date
- 11 December 2001
- Category
- Economy & trade
- Region
- China
- Era
- Contemporary
- Significance
On 11 December 2001 the People's Republic of China became the 143rd member of the World Trade Organization, completing a 15-year accession process that required extensive commitments to lower tariffs, open markets and reform domestic regulation.
Membership integrated the world's most populous nation into the rules-based global trading system and accelerated its emergence as the 'workshop of the world'. Chinese exports surged, foreign investment poured in, and within roughly a decade China became the world's largest trading nation and second-largest economy. The accession lifted hundreds of millions out of poverty and reshaped global supply chains, manufacturing and consumer prices. It also generated lasting debate in the United States and Europe over trade deficits, industrial job losses and whether engagement would liberalise China politically. China's WTO entry is widely regarded as a watershed in economic globalisation and a foundational step in the country's rise as a great power.
One piece of history in your inbox, weekly
New empires, events and features as they land — one good email a week. No spam, unsubscribe anytime.
Related economy & trade events
- China becomes the world's second-largest economy2010
- The global financial crisis and the collapse of Lehman Brothers15 September 2008
- China's Reform and Opening-Up Begins Under Deng XiaopingDecember 18, 1978
- The dot-com bubble burstsMarch 2000
- Launch of the euro1 January 1999 (notes & coins 2002)
- The Asian financial crisisBegan 2 July 1997
Further reading
The wider story
The Silk Roads: A New History of the World
Best-selling world history told through the trade routes that moved goods, faiths and ideas.
Get it on Amazon →As an Amazon Associate, Human Saga earns from qualifying purchases.