The Impact of WTO Membership: A Comparative Analysis of China, Russia and Ukraine
A complex analysis of the social and economic consequences of China, Ukraine, and Russia’s accession to the WTO was used to identify recommendations for the most successful adaptation of Russia to WTO standards. Russia tries to adapt to the WTO standards. The study focuses on the Chinese experience. China’s membership in the WTO is extremely useful for Russia from due to China’s positive influence on the development of its economy , as there has been expansion in the industrial and production sectors of its economy and promotion of goods in world markets, as well as an opportunity to use the WTO’s legal instruments for national domestic market protection.
China’s positive experience as a WTO member somehow contrasts with the described experience of Ukraine. An assessment of Ukraine’s versatile policy and its association with the EU allowed concluded that it is impossible for Ukraine to follow two ways at once: that of Eurasian integration and that of European integration.
Recently, the aggravated trade, economic and political confrontations between Russia and its American and European partners spurred radical changes in Russia’s economic strategy. Areas of such transformations can be determined by understanding both the positive and negative experiences of Russia’s old trade partners, namely China and Ukraine as they joined the world economic environment.