On the Adjustment of Trade Policy after China's Entry into the WTO

With economic development in China since the reform, trade protection has achieved its end. Meanwhile, with the rise in the marginal costs of trade protection, the validity of the policy disappears. Under the circumstance of knowledge economy and globalization, the actual shock of China's entry into the WTO dwarfs compared with theoretical anticipation. China should adopt a policy of moderate liberalism after its entry into the WTO.