Zhou Enlai (1898-1976), one of the most prominent and most popular of Chinese communist leaders of Mao Zedong’s generation, when asked about the impact of the 1789 French Revolution, apparently replied: “It is too early to say.”
One might be inclined to share Zhou Enlai’s view that assessing the full ramifications of such events takes time, as it is well illustrated, if of somewhat less dramatic nature, with respect to China and its tussle with the World Trade Organisation (WTO).
When China acceded to the WTO in late 2001, the talk of the town during the 4th Chinese Industrial Minerals Conference in Qingdao held at the same time was the pending demise of China’s notorious mineral export licence system.
Having joined the world’s trade club, through which all trade rules...