Table: The Global Impact
China's entry into the WTO will affect trade everywhere
Farmers will get a new market for millions of tons of grain and rice. Semiconductor, telecom-gear, and computer makers will get duty-free access to China. Adverse impact on U.S. industries will be light since it already imports most of the goods China makes.
Exports of fabrics to China's surging apparel industry could swell, as could outflow of industrial gear and high-grade steel. But other industries could slip as multinationals flock to China.
Imports of Chinese shoes, dishes, and kitchen utensils will rise as the EU phases out quotas. But luxury car, telecom, and industrial-equipment makers will benefit.
Garment and shoe industries, which have boomed under NAFTA, will be hit hard as quotas limiting Chinese exports to the U.S. are lifted. Also, Mexico must drop high tariffs on 1,300 Chinese products, hurting its industries.
Imports from China, currently about $1 billion annually, will rise sharply when India phases out curbs on 743 Chinese products. India's garment and shoe exports also could be hurt.
Imports of a wide array of consumer goods will grow as more Japanese manufacturers shift production to China. Equipment, vehicle, and electronics exports to China will rise.
It joins the WTO, too, so its $16 billion trade surplus with China will fall as it drops import bans on thousands of Chinese products. More production and engineering will go to China, but that will boost competitiveness of Taiwan tech companies.
Thailand, the Philippines, Indonesia, and Malaysia will lose foreign investment to China. Pressure will grow to upgrade industries and workforces.