US multinationals oppose the Congress to make sanctions on China

US multinationals oppose the Congress to make sanctions on China
Sep 28, 2007 02:06
DREAMLIFE Points: Join Date: Sep 5, 2007 Status: offline	On September 26th, about 160 US multinationals and associations signed a letter to the Congress together. In this letter, they appealed that trade sanctions againgst China should be avoided. To raise the tariff and other means only can bring Counterproductive results. Those multinationals include Intel, Microsoft, IBM, Walmart, Citi-bank, Cocacola and General Motor. Also they said in the letter that trade barrier should be eliminated in order to pretect US' interests. What's more, to improve their competence is very important. Using Exchange rate revaluation, product safety or other means to create trade barrier can not solve the problem thoroughly. On Sep. 24th, US Chamber of Commerce revealed its annual annual assessment of U.S.-China commercial relations. In this report, they require that China should do much more to open its market to American products and services. On the other hand, they oppose the Congress to adopt the policy of protectionism. Brilliant, vice president for Asia said:" we oppose counterproductive approaches that would be inconsistent with our international obligations, weaken our ability to promote needed reforms in China, and jeopardize American exports to our fastest growing trading partner,"“We must rise to the economic challenges we face, not retreat to protectionism.” It is said that US Senate and House of Representatives have made their bills against Sino-US trade. According to the sources, the bills are possible to be passed. This is not a good news for Chinese side.

Sep 28, 2007 02:06

DREAMLIFE
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Join Date: Sep 5, 2007
Status: offline

On September 26th, about 160 US multinationals and associations signed a letter to the Congress together. In this letter, they appealed that trade sanctions againgst China should be avoided. To raise the tariff and other means only can bring Counterproductive results. Those multinationals include Intel, Microsoft, IBM, Walmart, Citi-bank, Cocacola and General Motor.

Also they said in the letter that trade barrier should be eliminated in order to pretect US' interests. What's more, to improve their competence is very important. Using Exchange rate revaluation, product safety or other means to create trade barrier can not solve the problem thoroughly.

On Sep. 24th, US Chamber of Commerce revealed its annual annual assessment of U.S.-China commercial relations. In this report, they require that China should do much more to open its market to American products and services. On the other hand, they oppose the Congress to adopt the policy of protectionism. Brilliant, vice president for Asia said:" we oppose counterproductive approaches that would be inconsistent with our international obligations, weaken our ability to promote needed reforms in China, and jeopardize American exports to our fastest growing trading partner,"“We must rise to the economic challenges we face, not retreat to protectionism.”

It is said that US Senate and House of Representatives have made their bills against Sino-US trade. According to the sources, the bills are possible to be passed. This is not a good news for Chinese side.

Sep 28, 2007 04:03	#1
MIRANDAZHAO Points: Join Date: Feb 7, 2007 Status: Offline	For capitalists, benefit is the top thing :P

Oct 9, 2007 11:41

APAULT
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Join Date: Mar 11, 2006
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Two days ago I saw a report from a respected Australian financial writer who stated that the USA and Europe are (in general) opposing other countries buying substantial stakes in their major companies. On the other hand, Australia, South America, and the wealthy Arab nations and most of the rest of the world accepts this as part of globalisation. The reality is that the US and Europe are protectionist despite all the rhetoric about letting the market decide and minimising government interference. Australia is booming, because it is one of the freest trade nations in the world (thank you for starting it Mr Keating, a PM of wisdom who understood the importance of Asia 15 years ago) but the USA is languishing. The US and Europe are on the way out unless they begin to 'practice what they preach'.. and stop being defensive.

Oct 14, 2007 23:03

ICEBERG
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Join Date: Sep 10, 2007
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Quote:The US and Europe are on the way out unless they begin to 'practice what they preach'.. and stop being defensive.

Yes. EU and US should not always ask other nations to do what they require. They should practice what they preach themselves. Take the RMB appreciation issue for example, US frequently requires China to appreciate its RMB to solve the trade imbalance. I wonder why they do not make self-examination. It is unfair to ask its partner to do what they want. They should do something good for its partner. That is cooperation.

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