It is evaluating time for business to business its 5 years of entry to WTO and what does it mean for the future. The cost advantage driven import & export, progressive economic policies and thriving manufacturing sector backed by global sourcing have had driven Chinese B2B to the threshold of WTO which proved right. No doubt, the post WTO era has brought in some serious jitters to China and business to business community raising fears about implications of further market openings, especially to manufacturing and import/export sectors.

WTO accession brought to forth the domestic competence against external fears of reversing import/export and global sourcing trends as attempts were made to overcome stumbling blocks which resulted in a changed China in many ways. The major impact of this was the introduction of concepts like property rights and the involvement of public in policy making.

-Impact of WTO Accession on China B2b and Import/Export

Protectionism and lack of transparency have given way to aggressive policies ensuring that the country withstands future challenges. Disparity in domestic gross consumption and global sourcing demands boosted external business to business trade and with it, the import and export which quantum jumped. Key economic areas like banking which supported B2B and import/export, R&D, and infrastructural development got prioritized.

-Stage Set For the Forward March of Chinese Business To Business (B2b) Sector

The declared review of policies need not be feared to be skewed in favor of Chinese economic pillars like manufacturing, import/export and business to business as all of them more or less depend on global sourcing on which they thrived which the policy makers understand. Although industrialization reduces China's dependence on import/export backed by the present surging global sourcing, global economic integration is a great leveler.

The IPR and decentralization of governance may strengthen China's leadership in external business to business (B2B) and import/export further against fears by triggering further investment competition amongst provincial governments consolidating major and minor economic wings like manufacturing, import/export, business to business on the back of global sourcing. However, resistance to decentralization that sprung up from B2B, manufacturing and import and export sectors may be due to apprehensions alone.

World has quite changed since China's WTO accession benefiting China's burgeoning domestic and external business to business (B2B), import/export and global sourcing. Foreign entities, including that of global sourcing ones, are anticipating further commitment which is uncertain to predict; until such times, global sourcing forces can bolster Chinese economy.