International position of agricultural products futures after China's entry into WTO

Introduction: the construction of China's agricultural futures market should be consistent with the strategic goal of becoming an economic power in the 21st century, adapt to the comparative advantage of China's agriculture in the international market, establish the goal of building itself into a world futures trading center, and form an international pricing center for large agricultural products After China's accession to the WTO, some people have very wrong ideas A popular view is that after China's accession to the WTO, it has become a "free market" for foreigners Everything has to be done in accordance with the rules of foreign countries, especially agriculture They think that the cheap dumping of foreign products makes it impossible for Chinese farmers to grow land Those who hold this view ignore the comparative advantage of their own agriculture and do not understand the rule changes after China's accession to the WTO In my opinion, China's agriculture has its own comparative advantage after entering WTO After entering WTO, China will not become a "free market" for foreign businessmen, but everyone will sit at the negotiating table equally, and we can discuss and revise the unequal rules together After entering WTO, the government should reduce administrative intervention to rule the country according to law, and at the same time, we must strengthen the driving ability of the economy and improve the level of regulation and control, not like some people want to After China's accession to the WTO, it is necessary for China to establish a sound market system and its own independent financial system, rather than becoming a "shadow market" and "price colony" of the European and American markets In a word, China's accession to the WTO is a major strategic measure for the revitalization of the national economy China's economy will have its own division of labor and market share in the world market The disadvantage of agricultural production in China is very obvious compared with that in the United States It's no secret that it's impossible to carry out large-scale modern agricultural production, but there are also advantages: more people can engage in labor-intensive agricultural production, and produce the agricultural products that need human labor for the consumption of advanced human society, such as natural food without herbicide, chemical fertilizer and pesticide, and some economic activities Participate in international division of labor In terms of grain and food, rice, corn, wheat and soybean in China have advantages For example, most of the soybeans produced in China are edible soybeans with high protein content They are not genetically modified oil soybeans produced in the United States They are not the same commodity and have different uses There is a large price gap in the international market and the export has advantages They are one of the healthy foods in the future The futures market serves for the development of national economy After China's accession to the WTO, it should serve the agricultural production and circulation of our country, form the futures trading center of natural grain varieties, which is parallel with zhijiage, promote the famous brand of grain in our country, and form the reasonable price of grain in China This goal is based on the theory of species division and time zone division China is an important agricultural country Many large agricultural products, such as rice, corn, wheat, soybean (non GMO) and so on, have formed a situation of mass production, mass consumption and bulk trading in China China ranks first in the world in wheat and rice production, second in jade rice production and fourth in soybean production As the trading radius of these varieties is mainly in the Asian market, there should be a division of labor with the varieties listed on the Chicago Board of trade and found prices Due to the differences in product functions, there may be varieties of soybeans, wheat and corn with different uses in the world Similar to Chicago, the center of producing and trading genetically modified soybeans, Asia, the center of producing non genetically modified soybeans, also needs a non genetically modified soybean futures trading center to serve it That is to say, the same variety with different uses needs different trading centers, and the corresponding futures market is also needed to form the price of this product From a broader perspective, the division of varieties is subject to changes in the pattern of economic development, rather than limited to the futures market itself After China's accession to the WTO, due to the fact that China's transgenic product technology is still in the experimental stage, and the natural products have the distinct characteristics of nutrition balance and high protein content, according to Ricardo's comparative advantage theory, China has obvious comparative advantage in the production of natural products, while the United States has obvious comparative advantage in the production of transgenic products In the current international trend of green and natural consumption, China's comparative advantage in the production of natural products will be further confirmed and enhanced The so-called division of time zone refers to the division of labor between Asian time zone and European and American time zone With the internationalization of the world economy, major economic changes in any time zone within 24 hours will have an impact on the world economy In different time zones, continuous trading is required throughout the day to reflect the price changes at different times, so as to avoid the possible price risks at any time In real life, people are used to working during the day, so there is only a certain amount of trading in each region In the case of metals, for example, London trades first, then the United States, and finally Asia, including China Therefore, the so-called time zone division is that several key time zone futures markets are divided, all of which have the center of price formation in the time zone and serve for commodity pricing, so as to meet the requirements of continuous trading in different time zones, so that the futures market can provide hedging hedgers with means to avoid risks and reflect the changes of the world economy at any time China is an important economic power in the Asian time zone Although there are some mature markets in the world, due to the division of labor in the time zone, China must also have its own futures market In November 1999, the commodity futures trading commission of the United States made a clear conclusion in its report on the competitiveness of the U.S Futures Market: the most active varieties of overseas trading tend to meet the needs of local or regional risk management, but there are basically no listed products of the U.S futures exchange traded on overseas exchanges The formation of the so-called "shadow" market is just from the perspective of the division of labor in the time zone Take metals as an example, the price formation of metals is dominated by LME In this sense, Comex in the United States and Shanghai Stock Exchange in China have become its "shadow" market, which is the product of the division of labor in the time zone It should be pointed out that the division of labor in time zone and varieties is based on the international practice, highlighting its own characteristics and differences It is based on the international rules and the design of futures contracts, taking full account of the development of China's economy and futures market, not only copying the situation of other countries' futures market From the perspective of time zone division, some futures in China may become the "shadow" price of other countries, but in other varieties, such as the existing wheat varieties in China, non transgenic soybean varieties and listed rice, corn, cotton and other products, other countries may become the "shadow market" price of our market Only in this way can we conform to the objective law of division of labor and cooperation in world economic integration At present, soybean futures trading in China's agricultural products is active We should start from the amendment of soybean contracts and establish our own futures trading varieties To resume the trade of corn and rice, we should take Chinese products as the target in the design of the contract The substitution of foreign varieties should be considered carefully, and the genetically modified varieties should be excluded The elimination of alternative delivery of genetically modified soybeans in Dalian soybean contract is not only the requirement of agricultural production development after China's accession to WTO, but also the objective requirement of further standardized development of futures market Because the state has promulgated the regulations on the management of genetically modified organisms, it is legally required to distinguish genetically modified soybeans from natural soybeans Moreover, the prohibition of alternative delivery of imported soybeans also solves the problem of the integration of two types of contracts, which helps to further improve the price function of soybeans and make the market more standardized There are many varieties of wheat with different uses We should classify wheat according to consumption Generally, bread is made in foreign countries In China, the habit of eating steamed bread and noodles should be marked with two kinds of trading The main trading variety is eating high-quality wheat, which acts on the agricultural production, circulation and consumption in China, and is subordinate to the strategic goal of establishing a global pricing center for agricultural products in China Fee (author:) to feed Weibo to: