Asian Nations, Businesses Feel the Heat From China

摘要

China's entry into the World Trade Organization will be good for Asia's economic development in the long run. But in the meantime, it is terrifying Asian officials and workers who see their own livelihoods threatened. The long-term benefits are clear. Increased competition is already prompting Asian companies to invest more in research and development, branding and marketing. Governments worried about lost competitiveness may start putting more money toward the development of new industries and education. And China's emergence as an economic power might even force Asian countries to set aside their historical animosities and take cautious steps toward closer economic unity. "China will be a disciplinary device for Asia, forcing people to be more innovative, cooperative and to work harder," predicts Edwin Lai, professor of international trade and economic development at City University of Hong Kong.