Replies to post #2130 on Hartcourt Companies (fka HRCT)

[EZ2]

Whoops~~~~Deb, I think you may have to extend "the timeline" a bit !!!!!! EZ:)
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Wednesday, June 13, 2001

TRADE
WTO will prepare ground for 50 years of US-Sino relations

BIEN PEREZ

Admission into the World Trade Organisation will set the stage for increased Sino-US trade relations over the next 50 years, according to former United States commerce secretary William Daley.
Mr Daley, who served in the Clinton administration from 1997 until last year, said he expected the mainland finally to clinch a seat in the WTO this November when the trading group met in Qatar.

The mainland's admission into the WTO, which governs trade relations among member-states, was supposed to have been eased recently when sticky issues on agriculture were cleared up between the US and Europe.

"I do not see any other big hurdles," Mr Daley said after his keynote speech at the opening of the 3G World Congress.

"I believe [China's admission] can happen during the meeting in Qatar."

After that, the US should further develop its overall relations with China "at least during the first half of this century", he said.

A significant part of this trade will involve the business generated by US information technology (IT) from an open Chinese market. US high-technology industry exports to China increased by more than 500 per cent between 1990 and 1998, according to recent US trade statistics.

US exports of communications equipment grew more than 900 per cent from 1990 to 1998.

China's IT equipment market is estimated to be growing at 20 to 40 per cent a year.

Mr Daley said the Clinton administration's efforts to engage China "as a partner" paved the way for permanent normal trade relations between the two countries, and were worth emulating by the present administration.

China is supposed to eliminate IT tariffs by 2005, grant trading and distribution rights by 2003, open its Internet and telecommunications markets to investment and services, and provide stronger protection of intellectual property.

The US expects these moves to allow the US hi-tech sector to raise its participation in building China's IT infrastructure.

However, Sino-US relations have become strained because of such issues as the recent collision of US and Chinese military aircraft off southern China, and the sale of US arms to Taiwan.

Mr Daley said both sides had moved on and the Bush administration looked on the right track to strengthening Washington's ties with Beijing.