China's accession to the World Trade Organization (WTO) has been hailed as the biggest coming-out party in the history of capitalism. Its membership eventually will contribute to higher standards of living for its citizens and increased growth for its economy. But why would the Chinese communist...

The multilateral trading system has delivered successive rounds of trade liberalisation and established mechanisms to protect the interests of trading nations. The result has been growth for those nations that have recognised the importance of openness and established a domestic policy framework...