Untitled Document

Conference 2001 Program

Plenary Panel: The Impact of WTO Entry on China's Economy and Society

After over 14 years of negotiation, China is only a step away from WTO accession. The entry is a major victory for China in embracing globalization and for the world in integrating global economies. The impact of China's WTO entry will be long lasting. But their precise effects need to be studied. Which industries stand to gain and which ones face a tougher road ahead? How does WTO entry fit into Chinese reform efforts? Can China cope with the structural unemployment sure to result from the adjustment? How can WTO membership help improve China's judiciary system and its enforcement? In examining these questions, this panel will assess the high-level implications WTO entry has for China's economy and society as a whole.

Panel 1: Telecommunication - Connecting China

WTO entry will certainly change the landscape of the telecom industry in China. It will prompt the Chinese government to allow competition in the industry, and force telecom companies to improve efficiency. However, there are divergent views on the desirability of opening the telecom sector, and the questions at issue are complicated.

This panel will address: How will the Chinese government regulate the industry in the future? What is the most important issue they (who? The government or the industry?) are facing? How can foreign carriers penetrate the local market and resolve the "last-mile problem?" What will be the impact of new market entries on local carriers? How will Chinese telecom equipment companies leverage international capital and technology and benefit from WTO entry?

Panel 2: Automobile - Beating the Curves

After over two decades of rapid economic growth, Chinese consumers have accumulated enough purchasing power that they now want cars to replace their bicycles. As a result, China possesses tremendous potential demand for automobiles, and its WTO entry will boost growth in the global auto market. What does this vast new market mean to major global automobile manufacturers? How can they cash in on the opportunities?

At the same time, China's automobile industry is still in its infancy and WTO entry will eliminate the various protections it currently enjoys. Can it compete with global players? How can Chinese carmakers increase their competitiveness? How can Chinese the automobile industry attain international technology and quality standards? How can it address a variety of pressing environmental concerns?

This panel will include high level executives from both U.S. and Chinese auto companies, and explore these key issues facing the automobile market in China.

Panel 3: Financial Service - Is China Ready?

Financial service industries have played a pivotal role in the Chinese economy and will continue to do so. However, domestic financial industries are also plagued with bad debt and a lack of competitiveness. With China's WTO accession, its banking, insurance and securities industries will be restructured in the next several years. Are they ready for the tasks ahead?

This panel will examine the following questions: What are the competitive advantages Chinese banks and insurance companies have over foreign ones? How can domestic firms improve efficiency and transparency? How can foreign banks compete for local currency business? What management lessons are to be learned from foreign insurance companies? What should we expect from the opening of the securities market?

Panel 4: IT - Is There Any Success Model?

The last decade has seen the dramatic rise of China's Information Technology industry. However, compared to its peers in most developed countries, China's IT sector is still in its infant stage and is not convincingly competitive. Upon China's entry into the WTO, China's IT market will surely experience a revolution as technology, capital and human resources are poured into this vibrant industry. But the same process will also bring fierce competition.

This panel will address questions such as: What is the "sweet spot" in the Chinese IT market now? What competitive strategies should Chinese high-tech ventures adopt? What lessons can Chinese IT firms can draw from their US peers? How should foreign IT firms enter the China market? Is piracy going to be a problem for software companies in the long run?

Panel 5: How Can China Follow the Rules?

As China enters the WTO, the critical question on everyone's lips is how China will follow the WTO rules. Many of the laws and regulations in China are still not compatible with WTO regulations. China's judiciary is often subject to political influences and local protectionism. Many judges and regulators are not well versed in WTO rules. What is going to happen as WTO accession unfolds?

This panel brings legal experts and government officials to explore questions such as: What are the potential barriers preventing China's implementation of WTO rules? What actions should China take to overcome these barriers? How can China revise its administrative law to make it compatible with WTO rules? What role can we realistically expect Chinese courts to play in implementation? What preemptive actions can China and the U.S. take to reduce potential friction?

Panel 6: SOE - Where is the roadmap?

State-Owned Enterprises (SOE's) play a pivotal role in the Chinese economy, yet they have also been shielded from outside competition and are plagued with inefficiencies. China's WTO accession will likely determine the fate of most SOE's by forcing them to become more competitive, eliminate inefficiencies, and reduce their workforce. However, WTO accession should also create new opportunities for investment and employment that will offset many of the painful effects associated with reform of the SOE's. This panel will address the challenges faced by SOE's as they prepare for WTO accession, and discuss the current strategy to make them more competitive. In addition, the panel will seek to identify which SOE's will thrive in the global economy and which will perish, and propose ways to minimize the impact of expected unemployment. Finally, this panel will explore new opportunities for China and the US to cooperate in the SOE reform process.