Sublime

Since China joined the World Trade Organization in 2001 it has been more open to business with the world. China still heavily restricts foreign companies’ access to its own markets, but its international trade, within a market-based system and subject to the WTO’s rules and judgements, has expanded dramatically.2 This reshaped economic relations al

Measured at purchasing-power-adjusted prices, China is now the world’s largest economy, surpassing the United States (on the IMF’s measure) in the year 2013, with the gap in favor of China continuing in recent years. China’s growth has been roughly 3–4 percentage points per year higher than that of the United States (6 percent per annum in China co