This is indeed an exciting and historic moment." The words echoed those spoken by Guangsheng Shi, China's Minister of Foreign Trade and Economic Cooperation, one day earlier.

Beijing did not move to block Taiwan's accession, although a month ago it blocked Taiwan's entry into the Asia-Pacific Economic Forum (APEC). Since the Chinese civil war in 1949, Beijing has not recognized the sovereignty of Taiwan, maintaining that it is part of China.

"Taiwan's accession is good," said one Chinese delegate who asked to remain anonymous. While China's admission to the WTO throws open its enormous market, it is still a communist country. In his first speech after the accession, Lin emphasized that his country adheres to democratic policies.

"During past 50 years," he said, "the 23 million people of Taiwan have not only achieved economic stability but also significant democratic success in strong beliefs in peace and freedom."

Another important distinction between the two accessions is the fact that China joined as a developing country, Taiwan as a developed country. There are huge differences in tariff rates and subsidies allowed to developed and developing nations by the WTO. For example, a developed nation is allowed to subsidize its farmers only 5 percent for five years after joining (there are, clearly, large loopholes here used by the US and EU), while a developing nation gets 10 percent for 10 years.

While the opening of the markets comes at a crucial time for Taiwan, whose economy has suffered from increasing diplomatic isolation, "in the short run," the official said, agriculture will be one of the markets worst hit by freer trade.

Taiwan's agriculture sector, he said, is braced for enormous exports from the mainland. Over all, Taiwan's Board of Foreign Trade has estimated that Taiwan's accession into the WTO may boost its economy 0.74 percent in the next five to 10 years. Taiwan had a $20 billion trade surplus with China last year. Since China and Taiwan agreed to allow civil exchanges in 1987, Taiwanese firms have poured some $70 billion into China. The further dismantling of the remaining, decades-old tariffs will only serve to increase trade between the two.

"Nothing can stop China and Taiwan from entering the WTO now," said Dr. Adisai Bodharamik, Thailand's Minister of Commerce. "The Chinese wants Taiwan to join the WTO; it makes sense for them." Both China and Taiwan must wait 30 days for the membership to become active, and although the one-day lag may give China a final opportunity to block Taiwan's entry to the WTO, such a move is not expected. While the political ties remain cold, the dual accessions this weekend of China and Taiwan into the WTO smoothes the route for increased civil and economic exchanges. Many observers say they hope that this will spawn warmer political relations.

"For WTO every new member is a winner, Taiwan and China as well," said Achim Emde, a German delegate. "There may now be a possibility for worldwide peace by making countries come together through economic aspects."