China and the Global Economy: 20 Years on from Accession to the WTO

Faisal Islam writes about how 20 years ago, the admission of China to the World Trade Organisation altered economic gravity for good.

Faisal Islam writes: "On this day exactly 20 years ago - the moment that no one noticed that changed everyone’s lives and livelihoods, helped cause GFC, and transformed world power and diplomacy."

Ever since then, the rise of China has seemed inexorable, despite the seeming incompatibility of authoritarian politics and free market economics. It highlights those sectors that China has effectively come to dominate and the extent to which its growth has lifted hundreds of millions of Chinese out of poverty.

I doubt whether the extent to which China has come to dominate global affairs could have been forecast all those years ago.

The article is superb for all Year 13 economists.

And there is more in this BBC World Service podcast - follow the link in the tweet below.