rable trading status among foreign nations. Slowing this progress, the 124 nation strong trade bloc has requested that numerous conditions must be met by China before the nation can become a member of GATT once again. Several of these provisions are the "elimination of import prohibitions, restrictive licensing requirements and other controls or restrictions; lifting of all restrictions on access to foreign exchange and full convertibility of the Chinese currency". Other important key themes behind China's Open-Door policies are "economic and technological cooperation with the West", and that China's government no longer supports Third World revolution. Instead, China realizes that cooperation with developing countries would be far more practical.Although Chinese foreign policy is aimed at opening the nation's entire economy to the world, it neglects the agricultural market almost entirely, with the exception of technical contracts. These contracts are designed to improve the transfer of technologies to improve crop yields. "Technical contracts are made between farmers and village economic cooperatives and a wide variety of offices and technical personnel from different administrative levels". The funding for the technology used by the agricultural industry can be traced to extension stations of political parties, finance bureaus, or local insurance company. Since the groups funding technical contracts are nothing more than investors, a portion of the profits from increased production due to the technological advancements are returned to these groups. However, the technology providers also bear the risk of investors, "if output and economic returns can't reach prescribed figures, the extension administrations have to make up the losses".Like all good things, China's formidable economic growth has its downsides. A few of these detriments are inflation, an under-aided agricultural market, government inefficiency, and geographically uneven...
