International Trade

Challenges and Opportunities for U.S. Businesses in China Gao ID: T-NSIAD-96-214 July 29, 1996

After 15 years of economic reform, the Chinese economy has become one of the fastest-growing in the world. However, although China has moved toward a quasi-market system, significant trade barriers persist. This testimony discusses (1) China as a potential market for U.S. businesses, highlighting sectors in which economic expansion will require foreign expertise and equipment; (2) challenges U.S. businesses face in gaining market access to China, as well as the concerns of some firms now operating there; and (3) World Bank efforts to help Chinese commercial standards meet international norms, with special emphasis on the importance of reforming China's banking and financial services sector.



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