On December 11, 2001, China formally joined WTO; it was an important day in the economic calendar of China. From that time on, China’s GDP has increased at a compounded
annual growth rate of ten percent， and even recently it has been said that China is the second place on earth. After the WTO membership allowed China a more stable access to foreign markets and China successfully converted its cheap labor power into competitive products, the rocketing export has let Chinese goods fill with the markets in developed countries. Joining the WTO has been a very important event for the development of China at the beginning of the 21st century, and it is a powerful spur to the rapidity of economic growth of China. Against this background, joining the WTO has also brought my family many benefits.

Firstly, both my brother’s and my business have benefited from China joining the WTO. When I was in China, I operated a forwarding company that mainly handled containers for sea transportation. Due to the expanding export, there has been increasing demand for containers over the past eight years; hence, my company got an exciting gain and prospect in the early years of joining the WTO. In addition, my brother works for a five-star hotel. Joining the WTO has brought more businessmen coming to China to do business, so the occupancy rate of the hotel has been increasing and makes his hotel profitable. We have consequently enjoyed the economic benefit derived from China’s WTO membership; the increasing numbers in our bank account have been a testimony of our improving revenue.

Secondly, our daily life has benefited from joining the WTO. One of the main purposes of the WTO is to help trade flow as freely as possible. This means that WTO members can reduce disruptions that caused by unpredictable policy shifts and open up the Chinese market for more international trade. From the year 2002, there has been more imported merchandise in Chinese markets. Generally, the traders import high quality merchandise. The merchandise made in China has to compete with the imported merchandise; thereforce, the Chinese factories have to improve the quality of their products and reduce their prices. In the meantime, the WTO has reduced the tariff duties of China; thus, there is more high quality and cheaper merchandise to be selected in the markets for my family than before
2003. In fact, my family has bought Sony TV instead of Chinese TV, and we also can own
a Toyota because the prices have decreased a lot since China joined the WTO.

Finally, I have stood a better chance of improving my English level. Because of the increasing international trade and investment, many Chinese companies have been crying out
for workers who are proficient in English. Studying English has become extremely popular since 2002. Many schools began to employ teachers from America and England. More English meetings, where many people will gather there on Saturday morning to practice oral English, have come up in schools and parks. We study English hard in order to find better jobs and make a difference in the world around us. Moreover, the WTO entry also has promoted international cultural exchange including import of foreign films, so I have more chances to hear real American pronunciation. In fact, I have improved my English skills a lot since China joined the WTO.

It cannot be denied that there are also challenges from the WTO for China. Banks, gas and water were considered to be natural monopolies before 2002; however, these fields have to be opened for foreign companies now. With the expansion of Chinese industry, the environmental pollution has been increased alarmingly these years. When Chinese labor force becomes expensive in the future, China will also have to face competition from other developing countries. As for my family, there are more benefits than challenges from the WTO. The WTO for my family is probably akin to the treasure in a cave for Ali Baba.