Born in 1995, but not so young : the WTO began life on 1 January 1995, but its trading system is half a century older. Since 1948, the General Agreement on Tariffs and Trade (GATT) had provided the rules for the system.
GATT: ‘provisional’ for almost half a century. From 1948 to 1994, the General Agreement on Tariffs and Trade (GATT) provided the rules for much of world trade and presided over periods that saw some of the highest growth rates in international commerce.
GATT: The original intention was to create a third institution to handle the trade side of international economic cooperation, joining the two “Bretton Woods” institutions, the World Bank and the International Monetary Fund .
(1) the lowering of tariffs for imports (eg.on agricultural products from 31.5 percent to 14.5 percent overall by January 2004)
(2) the permission of foreign firms to sell directly in the Chinese domestic markets Foreign manufacturers, (automobile company would be able to sell their products directly to domestic consumers without having to go through Chinese trade organizations)
而世界性流动性过剩，又源于此前几年西方国家宽松的货币政策：特别是日本银行的零利率以及 2001 年 1 月到 2003 年 6 月美联储连续 13 次降息 (the most western countries carried out expansionary monetary policy with very low interest rate after 2001,so on world‘s Currency supply > demand) 。
我国当前的通货膨胀具有明显的外部输入特征，这种外部输入的通货膨胀又反过来推动了中国出口商品价格的上。 2007 年 1-6 月，中国主要出口制成品平均单价普遍上涨：棉纱线上涨 3.6% ，电视机上涨 90.5% ，自动数据处理设备及其部件上涨 34.7% ，摩托车上涨 10.6% ，自行车上涨 7.8 ，汽车及其底盘上涨 31.6% ，…… ( in China generally product‘s exported price increase,which has also strong impact on the world market‘s price inflation)
从流动性过剩这个源头上根治通货膨胀 : 我们需要国际协作；但也正由于需要国际协作，所以我们还不能指望这次通货膨胀很快结束 。 (In order to control inflation, we need more cooperation with other countries and international financial instituts, it‘s not only China‘s duty)