【正确答案】Key Points:
Positive:
①China's admission into the WTO will bring Chinese businesses both opportunities and challenges.
②There is no need to worry or panic as the changes will be gradual and therefore businesses have time to prepare for them.
③While stressing the necessity of increasing awareness of the law and constructing a credibility system, Long went on to explain that China has made a commitment to extensively open up its market to join the WTO and will gradually open up service trades such as finance, telecom and retail sectors.
④China was one of the founding members of the General Agreement on Trade and Tariffs (GATT), which was replaced by the World Trade Organization (WTO). Now, as the world's 10th largest trading country, China has every reason and desire to enter the new world trade body.
⑤Both the nation and people will benefit greatly from China's entry into the WTO.
⑥China used to be deprived of equal trade opportunities and was placed at a distinct disadvantage in world trade.
⑦Foreign companies will pour into China and offer great job opportunities, which will relieve the unemployment problem.
⑧Negative effects of the WTO accession would be limited while there would be substantial benefits for state enterprises, such as the introduction of more foreign technology.
⑨China already has a fairly high degree of openness in its economy after years of reforms. Foreign products have already taken a large market share in many sectors, including household electrical appliances, petrochemicals and tyres. State enterprises have long sustained pressure from foreign companies, particularly multinationals.
⑩Joining the WTO will also mean the end of preferential tax treatment for foreign companies operating in China and this will help offset the impact of tariff cuts.
[*]China will enjoy the benefits that the organization provides. Lower tariffs and tax rates and fewer trade barriers will facilitate swift and efficient imports and exports and other trade activities. According to the trade clauses of the WTO, the European Union will cut the tax rates it imposes on our exported textile products, thus allowing the arts and crafts companies in our country to extract more profits from their business. The WTO means opportunity, it sets the stage for Chinese businesses to cut a brilliant figure in international economic circles.
Negative:
①On the other hand, entry into the WTO will have some negative effects on China. State-owned enterprises in China are undergoing great difficulties, which will be more acute with the flow of foreign competitors into China.
②China's entry into the WTO will drastically reduce the nation's protection of its state enterprises. A considerable number of state firms will be unable to sustain the competitive pressure and as a result will see their very survival threatened.
③Major state companies are still concentrated in sectors of the economy that will not see sharp tariff reductions, such as energy, raw materials and transport.
④China's national economy is set to be faced with fierce competition from the outside world. The WTO pursues a relatively equal and free business environment for all of its members, which poses a major challenge to our economy. Marketing strategies will have to be adjusted or replaced to cope with new competitors, otherwise businesses will have a tough time of it and suffer great loses. We should brace ourselves for the challenge and be prepared to take the initiative when competition is close to hand.
⑤Abundant opportunities and stiff challenges both accompany China's entry in the WTO. We should make good use of the chances while suitably dealing with the competition from other countries. We must concentrate our efforts on upgrading our business and becoming a more integrated part of the international business community.