The Rise of China
Dan Snow's History Hit
00:00
China Exports a Flood of Cheap Commodities to the World
Three years after China joins the WTO in 2004, some 96% of all the assets of the 500 largest companies in China belong to the state. "It is probably the most unlevel playing field created in the last 30 years or so," he says. Foreign producers find out rather quickly when they come up with a new product that an exact copy of it can be made locally. It's called counterfeiting piracy. And piracy is the very heart of China's boom after it joins the WTO.
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