David Thomas: “China is now a member of the World Trade Organization (WTO). The WTO is not a club that just anyone can join--a country…”

“China is now a member of the World Trade Organization (WTO). The WTO is not a club that just anyone can join--a country must be deemed ready and economically mature. China's accession signifies that it is expected to meet the obligations that come with its stronger presence within the global economy. It is our role, as one of China's major trading partners, to make sure that china fulfills its WTO commitments. However, I am concerned that many of China's commitments have not yet been implemented or implementation has been inadequate. I join the many cosponsors of this resolution in urging the Administration to continue to engage China on compliance, as well as use the dispute settlement mechanism where necessary to enforce our rights. In addition to seeking WTO compliance, I support the Administration's efforts to encourage China to establish a more flexible exchange rate. At the same time, China's financial system is in desperate need of modernization. I urge the Administration to continue to work with China to modernize its fiscal structure and relax its capital controls.”