Can anyone explain China's WTO situation?

China will be revoked from the WTO because it is not a market economy yet.

China can not afford to become a market economy without most of its domestic industries imploding when faced with more efficient and higher quality competition from abroad.

Virtually everything in China is overpriced compared to what it's truly worth. Be it real estate or the snacks you buy at your convenience store.

The later may appear cheap, "wow! $.50 for 12 pies", but the ingredients and overall quality of the foodstuff here is so bad that it wouldn't even qualify for retail in the West, they are still overpriced and relying mostly on state-sponsored domestic monopoly to get by. The true retail worth of the snack is $.20, yes sir.

Since China joined the WTO it has proven to everyone that it can't be trusted, that it will break and bend the same rules that it agreed with at will and have no remorses whatsoever about it. To my knowledge no other member of the WTO does this on a normal basis.

China can't become a free market because then it would require free capital flow and I can't begin to imagine the massive outflow that would happen if there were no restrictions. Even with harsh restrictions, Chinese find creative ways to move their money abroad. Without these restrictions we are talking about something of biblical proportions.

China can't become a free market economy without transparency and the end of the guanxi/hongbao system. Wanda and Vanke and Greenland and other construction companies that build sh*t and only get contract by bribing the local governments will collapse overnight when faced by Foreign developers that can build infinitely better quality and could do it fast using domestic manpower.

Finally China can't be a free market because the CCP won't allow it, they will grasp onto their power and control, they will let the economy stall rather than allow anyone else (i.e. investors that are not CCP members) to control chunks of it.

/r/China Thread