Editor's note: Keith Lamb, a special commentator on current affairs for CGTN, is a University of Oxford graduate with a Master of Science in Contemporary Chinese Studies. His primary research interests are China's international relations and "socialism with Chinese characteristics." The article reflects the author's opinions and not necessarily the views of CGTN.

December 11th marks the 23rd anniversary of China's accession to the World Trade Organization (WTO) an event that reshaped the global economic landscape. China's role as a major player in globalization was cemented, becoming the world's biggest trading country and the second largest economy.

For the West, China's accession meant a further spread of their liberal trading system, reflected in China's stringent commitments for membership. China's skilled labor force, coupled with unparalleled infrastructure, made it the world's manufacturing hub. Western companies flocked to China, not only for low production costs but also for its reliability and capacity to scale.

China's accession into the WTO was not neoliberal capitulation but one focused on growing the forces of production. Here, state control over strategic sectors were retained while liberalizing markets. Importantly, China integrated into the global economy without sacrificing political stability and sovereignty.

For Western power centers, China's accession to the WTO was seen not only along the lines of profits and market access but as a political opportunity, where it was theorized that capital and liberalization would weaken China's governing system. This wishful thinking is encapsulated in various manifestations of the "China collapse theory."

However, China navigated the challenges of liberalization while maintaining political control. This ensured that the gains from globalization benefited the broader population. This strategy has been instrumental in reducing poverty, creating world-class infrastructure and fostering economic growth.

Importantly, growth while retaining sovereignty is exactly what the rest of the Global South seeks. Therefore, China's success, in part due to entering the WTO, should be celebrated by those who push for free trade, which is what the Western led-U.S. used to push for.

Today, trade protectionism, especially from the U.S. is on the rise, which runs counter to the WTO system. This demonstrates that hegemony for the U.S. trumps free trade principles. Through the language of "dumping," China's success in research and development (R&D), its great size which fosters huge amounts of talent and cutting-edge integrated production capabilities are obfuscated under what the hegemon would like the world to believe is "cheating."

This type of rhetoric has always existed. For example, China critics decry technology transfers as "theft," when these practices align with WTO provisions for developing nations, ensuring that globalization is not exploitative. In fact, since joining the WTO, China has fulfilled its commitments, adhered to trade rules and expanded market access. 2021 WTO statistics show that the U.S. had more than twice the number of complaints against it compared to China. Likewise, China was significantly more compliant with WTO rulings than the U.S.

Beyond the anti-China propaganda, Western firms have not left China because they know fine well its markets and advantages cannot be ignored. Essentially then, Western capital, which is at the forefront of Western politics (let us not forget they were instrumental in deindustrializing the West and relocating to Asia), is playing a double game. They know that China is the "best game in town" but would also like to maintain their dominance by preventing competition and even hobbling it.

To assume that companies arising out of a fraction of the world should monopolize the heights of technology for ever is a dangerous undemocratic game, which implies suppressing the Global South. Consequently, instead of seeing the rise of others as challenging their hegemony, they should rejoice at a growing pie, which will bring them more opportunities, even if their slice of the pie is relatively smaller.

In contrast, the rest of the world sees China's accession as a boon, as it has transformed globalization itself. What was once synonymous with Westernization is now a trans-civilizational process. This shift is evident in how profits, production and technology are more widely distributed.

China's strategy of reinvesting profits into its technology and infrastructure has elevated it from a hub of low-cost labor to a leader in high-tech industries. Production previously concentrated in China has dispersed to the rest of Asia and beyond. Nevertheless, Western capital continues to reap substantial rewards from China's opening-up, its R&D capacities and leading production processes.

Chinese companies like Huawei, BYD and Xiaomi produce affordable, cutting-edge products that are accessible to all, from electric vehicles to green technology. This further fosters a more inclusive form of globalization. For instance, Chinese electric vehicles and solar panels are helping poorer countries leapfrog into the green economy, democratizing access to once unaffordable sustainable technology.

With trade protectionism rising, despite China's developing status, it continues to act pragmatically using its economic strength for win-win solutions. Recent initiatives, such as allowing tariff-free access to China's markets from African states and welcoming Tesla without requiring joint ownership, demonstrates flexibility and a commitment to equitable globalization. These actions show how a major economy can cooperate with others to lead by example.

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