China Reform Monitor No. 326, August 9, 2000
American Foreign Policy Council, Washington, D.C.
Editor: Al Santoli
July 27
- Countries throughout Asia are worried that China's accession to the WTO could undermine Asia's export-led economic recovery, the Washington Times reports. While less concerned about higher-value industries, Asian leaders worry about China's domination of low-tech export-oriented industries. South Korean experts worry that their country will be flooded with low-priced imports from China that will undercut domestic products. And better access by China to the US will cause South Korea's share of America's market to drop. In addition, the Times adds, countries like the Philippines and Indonesia, that depend on lower-value exports, are extremely vulnerable to China's massive pool of low-wage workers.
