China Engaged: Integration with the Global Economy recognizes China's growing importance as a key player in the global economy. With its share in the world trade expected to more than triple by 2020, China will most likely become the second largest trading nation, after the United States. The report warns, however, that to realize such benefits, China and its major trading partners will need to mount efforts to further liberalize their trade and investment relationships within the context of a rules-based multilateral system, including China's accession to the World Trade Organization.