| Summary: | China, a nation inhabited by one fifth of the world's population and often referred to as "the sleeping giant", is undergoing significant transition. China, subject to domestic changes in its quest for a new balance between traditions, socialist notions and market economy, defines its new role in a changing world that drives towards the globalization of trade in goods and services faces. === This study examines the Chinese position regarding two aspects significant for both China's domestic process of transition and China's international role: telecommunications and banking services. The first chapter examines the general international framework of the GATS with respect to telecommunications and financial services. This includes, inter alia, a study of the legal framework, comprising in particular the WTO Financial Services Agreement and the Basic Telecommunications Agreement. Chapter Two provides an overview of the Chinese telecommunications and banking sectors. This Chapter focuses on the historical and cultural background influencing the process of domestic deregulation and internationalization of these sectors. Chapter Three features an assessment of the Sino-US WTO Agreement on the telecommunications and banking sectors. In the course of this study, a number of concerns and probable consequences can be identified for both sectors examined. === Will "the sleeping giant" move on towards complete market liberalization, or is that prospect merely a castle in the air? This study explores how the China's legal framework governing these two key sectors might unfold.
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