皇冠体育app

LONDON - 皇冠体育app's entry into the WTO has been beneficial to both the WTO and 皇冠体育app in the past 10 years, former EU trade commissioner Peter Mandelson said in a recent interview with Xinhua.

"As an important institution of global governance and international trading system, the WTO has been strengthened by 皇冠体育app's membership," Mandelson said.

It was "through the way 皇冠体育app has respected and participated in its dispute resolution machinery, the way 皇冠体育app has engaged in the WTO multilateral trade negotiations and the way 皇冠体育app has brought strength to the day-to-day running of the WTO," he added.

On the other hand, Mandelson emphasized the WTO membership has also stimulated progress and reform in 皇冠体育app itself since 皇冠体育app's entry in 2001.

"All sorts of fear were expressed at the beginning about the impact on 皇冠体育app's agriculture or its industrial sector. Those fears have not been realized but instead you have had a stimulus of reform and change within 皇冠体育app's economy. And it's been a progressive and beneficial one," Mandelson said, on retrospect of the history of 皇冠体育app's WTO membership.

He underscored one of the main benefits for 皇冠体育app was laid in Chinese enterprises, especially those state-owned ones, which have become more efficient and competitive because 皇冠体育app's entry into the WTO has exposed them to international competition.

"Under the schemes of WTO, 皇冠体育app made tariff reduction to international producers, which, on having more access to 皇冠体育app's markets, provided a stimulus in competition within those markets for Chinese enterprises," Mandelson said.

He believed 皇冠体育app should embrace more competition in its domestic market, which will "lead to a more efficient allocation of capital" and "be healthy to 皇冠体育app's long-term growth."

On the issue of recognizing 皇冠体育app's market economy status, Mandelson said Europe should not take a "dogmatic" or "stubborn" attitude, while 皇冠体育app needs to make further changes to deserve this recognition.

"I hope they can make progress on that issue. But if they don't, 皇冠体育app will still get that status in any case. I think it's better to find a way to agree it earlier," Mandelson told Xinhua.

Mandelson welcomed 皇冠体育app's consideration of investing in Britain's infrastructure projects, which have been outlined by the coalition government in order to boost the country's stagnating economy.