SYDNEY -- China's opening to the world amid its economic reform and modernization has brought immeasurable benefits to many of its citizens who are being enriched through growing trade linkages. Trading with the rest of the world and even the lukewarm welcoming of foreign investment capital have improved the material well-being of the Chinese more than all the years they were in the thrall of Marxist-Leninist rule.
Of course, it is no small matter that China's participation in international markets has provided consumers around the world with a greater range of choice and lower prices. China's continued expansion of trade and capital inflows will make even more people even more better off in the future.
However, it is an unsettled matter whether China's entry into the World Trade Organization or receiving permanent normal-trade-relations status from the United States will assist proreform leaders in Beijing. Although it is in the U.S. national interest that China continue to liberalize and adopt more market-oriented policies, there is little reason to believe that WTO membership or PNTR will accelerate those processes.