China fights for WTO membership

China is at the final stage of negotiations for membership of the World Trade Organisation (WTO). The final issue involves China's farm subsidies. WTO members are pressing China to reduce these in line with their capping rules, and China's recent rejection of their demands is delaying its membership. However, other issues are urging China's entry. For example, the US trade deficit with China is ballooning, with imports from China having increased to over $100bn in 2000 from only $18.3bn the previous year. Exports to China, on the other hand, were only $16.3bn in the same year, an increase...