If China does not follow the WTO rules regarding to child labor and Term Paper

If China does not follow the WTO rules regarding to child labor and sweatshops, it will dehumanize China's workforce - Term Paper Example The country has a constitutional system of governance with political structure with the party in power currently being the Communist party. In 2013, the elected prime minister by the National people’s congress was Li Keqiang while Xi Jinping was elected the president. The derivation forms of laws in the country are traditionally rooted the due to the western influence; they also blend the western system of law with their traditional approaches. The country’s common laws are in form of published judicial convictions while the civil laws are in the form of codified statutes. Its economic system through various reforms has undergone a complete metamorphosis into a capitalist system. The capitalist system has initiated rapid economic growth since China has emerged as one of the strongest economies in the world. However, challenges such as inequality, poverty (especially in the rural area), low consumption by the local, pollution, and inefficiency in the sector of state has surfaced in this particular economic system. In addition, its GDP is approximately above 10 trillion dollars with purchasing power parity 17.8 million dollars. Apparently, China is one of the largest economies in terms of purchasing power parity (PPP). The mineral reserves of the country are twelve percent of the world. Some of these minerals are iron, petroleum, Zinc, copper, molybdenum, tin, lead, coal, mercury, graphite, tungsten, manganese, antimony, and fluorspar. The country is one of the major exporters in the world economy. Some of the products for export are: computers, telephones, broadcasting instruments or equipment, integrated circuits, and parts of office machines. On the other hand, it imports petroleum, cars, iron, gold, and integrated circuits. It joined the World Trade Organization (WTO) in 2010 and became one of its members. Besides the WTO, it is also a member of China-Australia Trade Agreement,