China and World Trade Organization: A Study Economic Development between 2002 and 2021

Abstract

This paper aims to analyze twenty years of China's economic development after joining to World Trade Organization in 2001. This study applies a qualitative method with an analytical narrative approach to answer two research questions about China's economic development between 2002 and 2021 and the factors influencing China's economic power. After reviewing online and offline books, journals, and articles, this study found that China's capability in political, social, economic, and policy adjustments after accession to WTO, are crucial factors in transforming China into the world's economic power. China's membership in WTO opened the international market, which led to China's economic transformation with the highest aggregate macroeconomic indicators. China's success is also due to being well-prepared before entering the WTO as an international structure and its ability to make various policy adjustments.