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Nanjing and the WTO

        In 1979, Nanjing's GDP was 3.9 billion RMB, by the year 2000, it had multiplied 26 times to 102 billion RMB, nothing better then this that can point out the importance of reform and opening markets. China's entry into the WTO is, at its nature, an increase in the speed and vigor of reforms and market openings, simultaneously globalizing and legitimizing China markets and market regulations. Deng Xiaoping's twenty years of reform served to bring a closed door China into the rest of the world, and the entry of China into the WTO represents China's wholehearted commitment to become more a part of the world community, it is the first step on a long march to becoming a comprehensive, integral part of the world economy.

        Along with the rest of China, Nanjing has overcome the difficulties and dangers of the last twenty years to reinvent itself as a new, fast paced developing city. As with her experience over the last twenty years, joining the WTO will bring many predicted and undoubtedly many unpredicted difficulties to Nanjing. However, experts agree that increased openness to the outside world will bring about unmatched opportunities for long-term development.
Here we will explore the probable effects of the WTO on Nanjing's economic development and major industries according to the general trend of the development of Nanjing during the end of the 20th century.
 


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