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Iowa Ag Review

Abstract

After 15 years of negotiations, China became a full member of the World Trade Organization (WTO) in 2001. Since then, with eliminated or lowered tariffs, China’s bilateral trade has grown significantly. In 2002, the value of Chinese exports and imports for agricultural products reached $14.5 billion and $16.1 billion, respectively, and its total value of exports in agricultural products increased by $1.2 billion from the previous year.