The Clinton administration's recent invitation to China to join the WTO marks a significant step toward the Middle Kingdom's eventual inclusion in the international organization, and it signals the communist country's increasingly fast embrace of the decidedly capitalist global economy. For acceptance into the organization, China had to sign off on agreements that would allow foreign companies to eventually own up to 50 percent of Chinese telecom companies, which is already more than most institutional investors plow into many foreign telecom investments in the capitalist world. Also, foreign companies will be allowed to invest in Net ventures. That ability was unclear until the signing of the pact. China's head of the Ministry of Information Industries, Wu Jichuan, had announced just weeks before the agreements were signed that there would be a ban on all foreign investment in China's Internet industry.
Telecom companies see China as a vast frontier of relatively untapped potential.
But recently, the Chinese government asked Chinese Unicom to divest itself of its foreign investments. We put a lot of investment in China, a lot of time and effort. Then subscribe to the IAW E-Mail Alert. Openwave Be a part of the communications revolution. 810, the high-tech dream machine.